Minister of Fisheries and Ocean Resources Ahmed Shiyam has announced that USD3.2 million has been distributed to fishermen on March 5, with the remaining balance slated for settlement before Ramadan commences. He made the announcement during a press conference to update the public on the Week 14 Roadmap.
During the press conference, Minister Shiyam revealed that the government had allocated USD3.2 million to fishermen on March 5 alone, leaving an outstanding sum of USD9.5 million. He emphasised the government's commitment to clearing this backlog before the start of Ramadan.
Additionally, Minister Shiyam disclosed that payments have been made for fish processed up to January 25, leaving over a month's worth of payments pending. He also said that the government's objective is to initiate payments within 48 hours of fish processing, once the backlog is resolved and cash flow stabilises.
Since assuming office, the current administration has disbursed over USD39 million to fishermen. Despite the previous government's increase in the fish purchase price from USD1.1 per kg to USD1.6 per kg, the current government, after a review by the Economic Council, has revised the price to USD1.3 per kg. As such, approximately USD16 million remains outstanding to fishermen due to this adjustment.