Committee approves provision of MVR99m as fishermen

The Parliament’s Public Accounts Committee has granted permission to Ministry of Fisheries and Agriculture, to disburse MVR99 million out of MVR100 million assigned in the budget as subsidy to fishermen.

Speaking to reporters on the policy for providing subsidies to fishermen, Chair of Public Accounts Committee, Dhiggaru MP Ahmed Nazim said that out of the MVR100 million, MVR1 million had been assigned for administrative expenses, and permission had been given to provide the remaining MVR99 million as aid to fishermen.

He said that the matter was heavily researched before the subsidy policies were finalised.

The new policy states that fuel subsidies to fishermen will be based on the horsepower of engines installed on vessels, and that the subsidies will be deposited directly to the accounts of the vessel owners.

The values of subsidies vary depending on whether the vessel engine horsepower is below 72, between 72 and 300, or 150.

“The purpose of doing so is to ensure that the subsidies reach as many fishermen as possible. Larger vessels would have more employees,” Nazim said.

Nazim said that the committee had also put forward a way to monitor and verify the reception and validity of subsidies through the establishment of a website, to be managed by the Fisheries Ministry.

Nazim said that the disbursement of subsidies to fishermen was delayed because policies had to be established prior to its implementation.

He said that if the MVR99 million is not expended before the end of the year, the remaining amount will be transferred to next year’s budget.

“The MVR99 million may be exhausted, because earlier we estimated to cover 5 percent of every trip with subsidies, but now we believe we can provide over 20 percent,” he said.

Nazim said that Finance Ministry had assured that the money will be provided to Fisheries Ministry without any problems.

A total of 1305 vessels have registered as fishing vessels, in order to obtain the subsidy.