President Dr. Mohamed Muizzu announced that starting tomorrow, fishermen with Bank of Maldives (BML) accounts will receive payments for their catch within 48 hours of weighing. The long-standing issue of payment delays has been resolved, with MVR 38 million disbursed over the past two weeks to BML and Maldives Islamic Bank (MIB) accounts.
A new agreement between the Ministry of Finance, Maldives Industrial Fisheries Company (MIFCO), and BML ensures timely payments. Efforts are ongoing to address delays for MIB account holders.
To further support fishermen, fuel is now available at State Trading Organization (STO) rates at multiple depots. The administration also plans to expand fish storage and processing facilities, reinforcing its commitment to revitalizing the fishing industry.
