Minister of Finance Ibrahim Ameer has said the Maldives Marketing and Public Relations Corporation (MMPRC) must also work to market the fisheries sector of Maldives.
Speaking at the Parliamentary Committee on the State Budget, the finance minister said the state-owned enterprise (SOE) must also promote Maldives fisheries sector in addition to promoting tourism. He further said Maldives Fisheries Company Limited (MIFCO) can be easily be transformed to a profit generating company with MMPRC marketing Maldives fisheries along with the tourism sector in the company's bids in destination marketing.
Minister Ameer urged management of SOEs to apply good governance practices in running the institutes instead of using excuses for poor performance of the companies. He also cautioned the managements of actions if the performance of the companies does not improve, indicating necessary management changes if required. He said the decision has been communicated with the SOEs. He suggested performance contracts to ensure good governance and performance highlighting that various SOEs still resist positive change.
The administration is taking necessary measures to make MIFCO a profitable company. The resources of the company are currently fully deployed in canning tuna and expanding fish processing.