President Dr Mohamed Muizzu has announced that the government plans to revise the pricing of fish purchased from fishermen’s and the price of fuel sold to them. He made the statement while addressing the official event held in Dhuvaafaru, Raa Atoll, to mark the Fishermen’s Day.
The President said the Maldives Industrial Fisheries Company Limited (MIFCO)’s maximum fish purchase rate was USD 1.03 for 1.5 kg and above. However, the policy has been amended such that USD 1.03 is now the minimum rate at which fish is purchased. He pointed out that with this change, fishermen will now have the opportunity to sell their catch at rates higher than the previous maximum.
Speaking on fuel prices, the President said the price of fuel sold through MIFCO will be reduced by 3.3 cents per litre for fishing vessels, and by 4.6 cents for fishing vessels with a catch over 3 tonnes. These reductions are expected to save fishermen around USD 65 from their current fuel purchasing prices.
The President also revealed that the government aims to establish State Trading Organisation (STO) skids in every atoll.