President Mohamed Muizzu has announced that Maldives Industrial Fisheries Company Ltd (MIFCO) will purchase skipjack tuna for MVR 16 per kg while State Trading Organization (STO) will bring down the price of fuel sold to fishermen by MVR 0.51.

Speaking at the National Fishermen's Day ceremony in Raa Dhuvaafaru island on Saturday night, Muizzu said the changes will come into effect from December 14.

"Now MIFCO is buying fish above 1.5 kg at MVR 16. In consultation with fishermen and relevant sectors, we have decided to keep the price of fish above 1 kg at MVR 16 from tomorrow," Muizzu said.

In addition to a discount of MVR 0.51 on fuel sold to fishermen, a discount of MVR 0.71 will be given to boats that weigh more than three tons of fish. The discount will help some boats save about MVR 1000, he said.

The former administration was purchasing fish for MVR 25 per kilo. But on June 30, 2024, the government made a major change to the fish purchasing prices. A kilo of frozen fish is now at MVR 16 while unfrozen fish is MVR 14 per kg.

However, one of Muizzu's biggest presidential pledges was not to reduce the price of fish below MVR 20 per kilo.