The Maldives Industrial Fisheries Company (MIFCO) has announced the disbursement of over MVR 36 million to local fishermen for catch purchased during the month of April.

According to the latest financial records released by the state-owned enterprise, a total of MVR 36,686,909 was credited to fishing vessels from April 1 to April 23. This figure includes a recent payment of MVR 6,136,593 released today, covering catch processed on April 21.

A detailed breakdown of the disbursements reveals that skipjack tuna accounted for the majority of the payments, totaling MVR 36,293,624. Furthermore, MVR 363,625 was distributed for yellowfin tuna exceeding 15 kilograms, while MVR 29,660 was paid for yellowfin tuna in the 10-kilogram category.

Under the administration’s current economic policies, MIFCO maintains a purchase price of MVR 16 per kilogram and provides diesel at a subsidized rate of MVR 13 per liter. Despite the upward trend in global oil prices due to ongoing instability in the Middle East, the government continues to facilitate affordable fuel access for the fishing community through MIFCO.

Additionally, in fulfillment of President Dr. Mohamed Muizzu’s presidential pledges, MIFCO commenced the purchase of yellowfin tuna in January. Since January 21, the company has been purchasing yellowfin tuna weighing between 10 and 15 kilograms, as well as those above 15 kilograms, at a standardized rate of MVR 25 per kilogram.