MVR 46 million owed to fishers will be paid before Eid: MIFCO

Jun 13, 2024, 9:39 AM

Fishing boat near MIFCO collector vessel. -- Photo: Mirash Nashim/ Adhadhu

The Maldives Industrial Fisheries Company (MIFCO) said today that it will pay MVR 46 million before Eid out of nearly MVR 80 million owed for catch bought from fishers.

MIFCO media official Ibrahim Saeed told Adhadhu today that the company started depositing funds yesterday to the accounts of fishing boat owners and that MVR 46 million will be paid out before Eid. The company was also working to clear the remaining backlog of outstanding payments as soon as possible, he said.

"We started depositing money yesterday. We will complete releasing MVR 46 million before Eid," he said.

Outstanding payments owed to fishers reached MVR 200 million when President Dr. Mohamed Muizzu assumed office. The figure later rose to MVR 277 million with MIFCO unable to make payments.

At that point, fishermen gathered in MIFCO's Kooddoo factory and staged a large protest. The company then started making payments and cleared the backlog by April. But outstanding payments started to accumulate again and reached MVR 80 million as of Wednesday.

Fishermen from Huvadhu atoll protested over the non-payment in Madaveli yesterday.

MIFCO Fisheries Fisheries Ministry

Comments

Fishing in the north slows down due to high oil prices

Apr 2

BKMU Fishermen end week-long protest

Dec 17

Protesting fishers demand President Muizzu and Minister Shiyam's resignation

Dec 14

Fish purchasing price at MVR 16 per kilo

Dec 14

Latest News

Mental health centre opened in Kulhudhuffushi

Kulhudhuffushi City has opened "Manas Hub," a new mental health center launched by the City Council and the Australian High Commissioner. The facility aims to reduce social stigma and provide accessible support, treatment, and early intervention. This milestone marks a major step in strengthening community-based mental health services.

Audit reveals millions in losses over project given to POLCO

An audit revealed millions in losses after the Home Ministry awarded a prison project to POLCO without competitive bidding. POLCO subcontracted the work for a fraction of the price and charged MVR 2.9 million for demolition work that never occurred. The Auditor General has recommended an investigation by the Anti-Corruption Commission.

Yameen urges Eagle Hills to scrap Rasmalé project

Former President Abdulla Yameen has urged Eagle Hills to scrap the Rasmalé project, labeling it an exploitation of a "morally bankrupt" regime. He cited public resentment and controversial lease terms that suggest a permanent loss of land. The project faces heavy criticism for its financial structure and perceived lack of public support.

PG had secured release of suspect detained with film stars

Shahil Mohamed, recently arrested with several film stars for drug offenses, was previously released from pretrial detention in a two-kilogram heroin trafficking case. The Prosecutor General’s Office had requested his release due to his medical condition and length of detention. He has now tested positive for synthetic drugs.

Eagle Hills to develop 5,000 housing units in Urban Isle

UAE’s Eagle Hills will develop 5,000 housing units in Hulhumalé’s "Urban Isle" as a prerequisite for the Rasmalé Waterfront project. The $400–$500 million development features three-bedroom apartments funded by future property sales. This initiative replaces a stalled $8 billion financial center project previously planned for the same site.

Two discharged, two in critical condition after road accident

Two people are in critical condition on ventilators and two others have been discharged following a motorcycle crash in Hulhumalé. The accident occurred when a motorcycle carrying three people fled police by driving against traffic. One victim suffered a brain hemorrhage, and the unlicensed driver reportedly has an extensive criminal record.

Renovation begins at Hulhumale' synthetic track

Renovations have begun on the Hulhumale' synthetic track to upgrade it to international World Athletics standards. The project involves installing a high-quality polyurethane surface to ensure athlete records are officially recognized. Work is expected to be completed by January next year.

Get the latest news delivered straight to your inbox