President Dr Mohamed Muizzu has announced a significant milestone in his administration's efforts to bolster the nation's fisheries sector, revealing that over USD 24.97 million has been disbursed to fishermen since the implementation of a policy guaranteeing payment within 48 hours of purchasing their catch. The announcement was made during the inaugural episode of 'Rayyithunnaa Eku', a podcast launched on Thursday to promote transparency and facilitate direct communication with the public.
The payment initiative, a cornerstone of President Dr Muizzu's electoral platform, was officially introduced on 10 December 2024, coinciding with Fishermen's Day in the Maldives. Its launch, the president said, marked the beginning of an unbroken record of daily payments to fishermen, fulfilling a pledge that underscores the administration's commitment to the sector.
Addressing the subject of fishermen, President Dr Muizzu reaffirmed his commitment to ensuring payments are made within 48 hours of purchasing their catch. "This has been implemented consistently since last December, every single day until today," he stated.
The administration's focus on timely payments began amidst challenging circumstances. Upon assuming office in November 2023, the president said, his administration inherited outstanding debts to fishermen exceeding USD 16.21 million. These arrears were swiftly cleared, according to him, and the government has since ensured prompt payments, even during public holidays—a clear demonstration of its dedication to the welfare of the fishing community.
Building on this foundation, the administration earlier outlined a broader vision for the fisheries sector. It aims to position the industry as a cornerstone of the national economy by addressing existing challenges and investing in critical infrastructure.
Among these efforts is the development of a fish cannery in Hulhumalé by the state-owned Maldives Industrial Fisheries Company (MIFCO). Supported by a USD 65 million loan from the Islamic Development Bank (IsDB), the facility is designed to process up to 35 tonnes of fish, significantly enhancing the nation's processing capabilities.