Minister of Fisheries, Agriculture and Ocean Resources Ahmed Shiyam has publicly refuted rumours of fuel shortages plaguing the nation's fishermen, asserting that ensuring access to the sea remains the government's top priority despite ongoing global instability.
In a social media statement addressing industry concerns, Minister Shiyam acknowledged high worldwide oil prices due to the Middle East conflict but emphasised that the government is successfully managing the situation without passing the full burden onto fishermen..
Highlighting a positive trend, he reported that fish stocks, after a prolonged decline, are showing signs of recovery nationwide, leading to improved catch rates. He assured that the government would continue deploying fish-collection vessels to productive fishing grounds to support this uptick.
Central to the government's support is the "Fahi Hakatha" subsidy programme, which guarantees fuel at a stabilised price. Under this program, the state-owned Maldives Industrial Fisheries Company Limited (MIFCO) provides diesel to fishermen at USD 1.07 per liter. For bulk purchases exceeding three tonnes, the price is reduced further to USD 1.04 per liter. This represents a significant subsidy compared to the standard commercial rate of USD 1.14 per liter that MIFCO sells diesel for, a price it has committed to maintaining.
The Minister concluded by reaffirming the administration's close attention to the fishing industry, adding that it is actively addressing challenges faced by all stakeholders within the sector.