Timely payments bring Maldivians back to fisheries, president says

President Mohamed Muizzu has stated that an increasing number of Maldivians are returning to fishing due to timely payments for their catch.

Speaking on the Rayyithunaa Eku podcast on Thursday, the President highlighted recent changes in the fisheries sector since the current administration assumed office.

"When this government took office, the entire fisheries industry was in difficulty," President Muizzu said.

He reiterated his earlier commitment to ensure payments for weighed fish within 48 hours, a target he said was achieved on 10 December, Fishermen’s Day.

He added that it took most of the previous year to stabilise the system and make the necessary arrangements.

Under an agreement signed between Bank of Maldives (BML), the Maldives Industrial Fisheries Company (MIFCO), and the Ministry of Finance, the government began paying fishermen for their catch from 10 December 2024, according to the President.

He stated that approximately MVR 470 million has been paid to fishermen so far.

“Every day, God willing, payments are being made,” he said.

The President noted that this has had a measurable effect, with many individuals, including younger Maldivians who had previously stopped fishing due to delayed payments, now returning to the sector.

He also commented on the presence of foreign workers in the fishing industry, saying that he wanted to see more Maldivians working in the field instead. According to the President, this goal could only be achieved by ensuring fair and regular payments that would encourage participation.

President Muizzu reaffirmed that the government remains committed to providing consistent and equal payments to all fishermen.