Maldives Industrial Fisheries Company (MIFCO) Chairperson Ahmed Shareef has been transferred as the Chairperson of Maldives Fisheries and Ocean Resources Marketing and Promotion Limited (MFORMPC).

The Privatization and Corporatization Board (PCB) today said Shareef has been removed from the post of MIFCO Chairperson and appointed as Chairperson of MFORMPC. He was appointed to MIFCO on December 9, 2023.

President Dr. Mohamed Muizzu formed the MFORMPC on February 4, 2024 as a 100 percent government-owned company to promote Maldivian fisheries products in the international market.

The company was founded with the primary objective of expanding the fishing industry and enhancing its social benefits by promoting and advertising Maldivian products on the global market.

This includes products from aquaculture, mariculture and all marine sources. To boost revenue, the company was tasked with launching a distinctive brand for local fisheries, advertising it locally and in various lucrative international markets.