Fuel sold to fishermen to be cheaper starting next month

State Trading Organization (STO) has decided to reduce the price of fuel sold to fishermen starting next month.

The announcement was made by the Managing Director of STO, Ahmed Shaheer this morning during the lanching ceremony of the new fuel barges to be added to the FSM (Fuel Supplies Maldives) fleet held at Funadhoo.

Shaheer said that taking Maldives Industrial Fisheries Company (MIFCO) under STO was an important decision by the government to improve the service provided to the public and strengthen the fishing industry.

And so the fuel prices would be reduced for fishermen and changes would be made to the fuel according to the Managing Director of STO. But he did not say what those changes would be.

The last change to the fuel price for fishermen was made in March 2016 when MIFCO was a separate company and the price of diesel was reduced from MVR 10.50 to MVR 7.30.

The three new barges added to the FSM fleet today are larger than what they used before and would support the STO effort to provide fuel across the country with speed.

FSM said that the barges named Handhi, Meemas and Maatholhi were brought in under the strategic plan brought into effect two years ago.