Shainee: MIFCO has assures fishermen's debt paid

Fisheries Minister, Dr. Mohamed Shainee has said that the Managing Director of the Maldives Industrial Fisheries Company (MIFCO), the company which was taken under STO as a subsidiary due to large debts, Adlee Ismail has assured that the MIFCO’s debt to the fishermen has been cleared.

Speaking at the Fisherman’s Day function in Gaafu Alifu Gemanafushi tonight, Minister Dr. Shainee said that the Managing Director of MIFCO, Adlee has given the good news that the MIFCO’s debt to the fishermen was cleared as of last night.

Dr. Shainee said that Adlee has assures that the issues inside MIFCO would be resolved in the coming year with the collaboration of the government and the STO. And those discussions would be held with the fishermen to resolve the issues.

While the Fisheries Minister has said this, MIFCO became a subsidiary of STO with a debt of MVR 300 million. MIFCO is being run as a separate company under STO.