Over MVR 78mn disbursed to fishermen in April

Maldives Industrial Fisheries Company (MIFCO) disbursed over MVR 78 million in payments to fishermen in April.

The latest statistics released by MIFCO on Monday shows the company purchased 4,410 tons of fish from 1,068 fishing vessels in April.

It paid the vessels MVR 78,778,405 for the fish.

The disbursement was made as part of efforts by state-run MIFCO to ensure regular disbursement of payments to fishermen.

The highest disbursement went to skipjack tuna fishing vessels. As such, 781 skipjack tuna fishing vessels were paid MVR 77 million for 4,146 tons of skipjack tuna.

MIFCO also disbursed MVR 115,000 for 5.78 tons of yellowfin tuna weighing above 10 kilos, and MVR 1 million for 40 tons of yellowfin tuna weighing above 15 kilos.

The incumbent administration has promised to disburse payments to fishermen within 48 hours of sales, resolving the financial burden fishermen previously faced at having to wait long periods of time for payment.

MIFCO states it aims to continue to make regular disbursements to fishermen, boost its fish purchase capacity, and increase capacity at factories in order to boost exports.