In a significant move to insulate the nation's vital fishing industry from the fallout of the ongoing Middle East conflict, the government has distributed over 1.1 million litres of subsidised fuel to local fishermen.
The initiative is designed to keep the fleet operational despite rising global fuel costs.
Minister of Fisheries, Agriculture and Ocean Resources Ahmed Shiyam announced the figures during a press conference at the President's Office, stating that 958 boats have received support so far, with many benefiting from multiple allocations.
According to Minister Shiyam, the primary aim of the government is to get fishermen to head out to sea despite this difficult situation, highlighting the subsidised fuel programme as a key component of these efforts.
The distribution is managed through the Maldives Industrial Fisheries Company (MIFCO), with allocations tailored to vessel size. Larger vessels over 85 feet received 5,000 litres, mid-sized vessels between 50 and 85 feet were allotted 3,000 litres, and smaller vessels under 50 feet were provided with 1,500 litres.
The bulk of the fuel, 583,220 liters, was distributed through MIFCO's main centre in Kooddoo. Significant distributions were also recorded at the Addu City centre (255,445 litres), Hulhumale' Centre (133,004 litres), Felivaru centre (72,710 litres), and the Himmafushi centre (62,251 litres).
The subsidised rate for fishing vessels is set at USD 1.07 per litre, with a further discount to USD 1.04 per litre for bulk purchases exceeding three tonnes. This represents a substantial saving compared to the USD 1.14 per litre rate at which MIFCO continues to sell diesel to the general public, underscoring the government's targeted support for the fishing sector.