President Dr Mohamed Muizzu has reiterated his administration’s commitment to tackling the concerns of fishermen, during a meeting at the President’s Office on Monday — the third such engagement with the fishing community.
Fishermen highlighted several challenges, including the need for a clear timeline on raising the fish purchase price to USD 1.30 per kilogram, declining baitfish stocks, loan difficulties with the Bank of Maldives (BML), and the need to upgrade Maldives Industrial Fisheries Company (MIFCO) weighing scales to digital models.
Responding to these concerns, the President pledged that the price hike would take effect once the 48-hour payment system is fully stabilised. He also promised instructions to BML to simplify loan applications by easing documentation requirements.
Other updates included:
- Ongoing land reclamation projects in Vaavu Atoll to proceed in consultation with fishermen.
- Standardisation of fuel prices across all atolls to match STO rates by March 2026.
- Preparations by MIFCO to begin fuel sales.
President Muizzu assured that his government will continue to work closely with fishermen to resolve challenges and strengthen the sector’s long-term growth.
