The government has announced a subsidy for fishermen in its proposed State Budget for 2023.
It said that the purpose of issuing this subsidy is to mitigate the losses incurred by Maldives Industrial Fisheries Company MIFCO for buying fish catch from fishermen for prices less than that in the market.
The government indicated that this subsidy would be given from MVR 3.91 billion allocated for social protection.
It also included a new subsidy for sewerage and sanitation services in the budget.
The government said that this subsidy was to be given because sanitation services cannot be priced on islands in which Fenaka Corporation is giving the service.
Both of these subsidies would fall under indirect subsidies. The Government said that up until 2022 its has been issuing 7 such subsidies and that 2023 would see two more subsidies added to the list.
