The Maldives Industrial Fisheries Company Limited (MIFCO) has pledged to continually enhance its management efforts. MIFCO conveyed the commitment to President Dr. Mohamed Muizzu, Minister of Fisheries and Ocean Resources Ahmed Shiyam, industry shareholders, and the people of the Maldives.
In a statement, the company said it takes pride in being the first to align with the president's policy to strengthen the management of state-owned enterprises (SOEs). The board of MIFCO, management, and employees expressed their gratitude to the president for this honour.
MIFCO acknowledged that President Dr. Muizzu's focus on improving company management and minimising waste. The company appreciated the president's decision to appoint an experienced individual, unconnected to the Maldivian fisheries sector, who has successfully managed world-class companies. The move underscores his commitment to eliminating undesirable practices within the industry.
While MIFCO has made significant strides in getting back on track, much work remains to ensure efficient operations. Recently, the company announced salary cuts for senior management as a cost-reduction measure in its ongoing efforts to strengthen operations.