President Dr Mohamed Muizzu has affirmed that the Administration aims to restore fisheries as the Maldives’ economic lifeline. He made these remarks while addressing an official function held this evening in R. Dhuvaafaru to mark the 45th National Fishermen’s Day.
The President stated that fisheries are deeply intertwined with the nation’s identity and heritage, noting that significant work has been carried out under six policies across six key areas to strengthen, sustain, and further develop the sector.
Highlighting measures to support fishermen, the President announced that from Sunday, the Maldives Industrial Fisheries Corporation (MIFCO) will purchase fish from one kilogram onwards, instead of the current minimum of one and a half kilograms, at the maximum market rate. He further announced that MIFCO will sell fuel to fishermen at an average of 51 laari lower than prevailing market prices.
Addressing infrastructure development, the President stated that efforts to expand cold storage capacity are underway, with an additional 200 opportunities to be opened for fishermen to apply for Refrigerated Sea Water (RSW) system loans.
He added that practical work to establish fisheries processing facilities across the Maldives will commence shortly. In addition, work on fuel skids is ongoing, with all facilities nationwide expected to be operational by the end of March.
The President identified the price of fish as the most significant challenge facing fishermen and noted that effective, long-term, and sustainable solutions are being pursued to address the issue. As part of these efforts, he announced that MIFCO will expand its operations to include the purchase of yellowfin tuna, adding that progress on the Hulhumalé facility will enable this expansion.
President Dr Muizzu further stated that his vision for the fisheries sector provides employment exclusively for Maldivians. In this regard, he expressed his intention to encourage youth participation in the industry and to introduce national recognition for individuals and entities that train and employ Maldivians.
The President stated that available statistics demonstrate tangible progress in the fisheries sector over the past two years. He added that continued development of the sector would contribute to both individual livelihoods and national economic growth, calling on all stakeholders to support these efforts without being influenced by political opposition rhetoric.
