MIFCO withdraws fish can price hike after public concern

The state‑owned Maldives Industrial Fisheries Company (MIFCO) has reversed its decision to increase the price of oil fish cans announced earlier on Monday.

MIFCO had initially said the price hike was driven by rising production costs, citing global oil price fluctuations linked to the conflict in the Middle East.

However, the company later withdrew the decision the same day.

MIFCO said it chose to maintain the previous prices after considering public concerns and the overall cost of living. As a result, oil fish cans will continue to be sold at MVR 17.50 per can and MVR 760 per case at MIFCO outlets.

The company reiterated that it remains committed to providing quality products at the lowest possible price.

Notably, the loss‑making company also announced on Sunday that it would reduce its official working hours by two hours as part of cost‑cutting measures.