Since the administration began issuing payments to fishermen within 48 hours in accordance with its pledge, a total of MVR 2.2 billion has been disbursed as of the 27th of this month, Minister of Fisheries and Ocean Resources Ahmed Shiyam has stated.

Speaking at a press conference held at the President's Office regarding the fisheries sector, the Minister noted that when this administration assumed office, there was an outstanding debt of MVR 250 million owed to fishermen in 2023.

He explained that President Dr. Mohamed Muizzu pledged to disburse payments within 48 hours specifically due to the major challenges that previously surrounded compensating fishermen.

The Minister stated that through policy reforms undertaken in the fisheries sector in line with the President’s pledge, the government overcame those hurdles, settled the backlog inherited upon taking office, and commenced disbursing payments for fish catch within 48 hours.

He highlighted that following the resolution of that substantial backlog, Maldives Industrial Fisheries Company (MIFCO) has disbursed MVR 2.2 billion to fishermen up to the 27th of this month since the 48-hour payment system was initiated.