MIFCO reverses fuel price increase for fishermen
MIFCO said the government has decided to continue supplying fuel to fishermen at subsidised rates under the “Fahi Hakatha” programme.
Maldives Industrial Fisheries Company (MIFCO) has decided to maintain diesel prices for fishermen at previous rates after announcing an increase earlier this week.
MIFCO said the decision was taken to ease the impact of rising fuel costs on fishermen.
The company had issued a memo on Monday stating that diesel prices would be increased following a rise in global oil prices, which have exceeded $100 per barrel amid the conflict in the Middle East.
In a statement on Tuesday, MIFCO said the decision by the State Trading Organisation (STO) to revise fuel prices for businesses had been reviewed.
MIFCO said the government has decided to continue supplying fuel to fishermen at subsidised rates under the “Fahi Hakatha” programme.
Under the revised arrangement, the prices announced on the 5th of this month will remain in place.
According to MIFCO:
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Fishing vessels weighing less than three tonnes will receive diesel at MVR 16.54 per litre
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Fishing vessels weighing more than three tonnes will receive diesel at MVR 16.04 per litre
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Diesel will be sold to other customers at MVR 17.54 per litre
STO also announced on Monday that fuel will be supplied at the same rates to operators providing launch ferry and boat ferry services to islands.
Authorities said the measures are aimed at ensuring the availability of fuel without placing additional cost pressures on the public.
