Fishers fear 'bankruptcy' as MIFCO plans price hike

15 hours ago

Private fisheries companies are sounding the alarm over the potential for widespread bankruptcies and economic instability following President Dr. Mohamed Muizzu's announcement that the state-owned Maldives Industrial Fisheries Company (MIFCO) plans to increase its tuna purchase price to MVR 20 per kilogram. The Maldives Seafood Processors and Exporters Association (MSPEA) issued a statement on Thursday, expressing grave concerns to the government.