MIFCO cuts working hours as cost measures introduced
Working hours will run from 8:00am to 2:00pm, compared to the previous hours of 8:00am to 4:00pm.
The Maldives Industrial Fisheries Company has announced a reduction in official working hours as part of measures to manage costs.
The state-owned company stated that new working hours for its head office and regional centres will take effect from tomorrow.
Under the revised schedule, working hours will run from 8:00am to 2:00pm, compared to the previous hours of 8:00am to 4:00pm.
MIFCO Public Relations Manager Shifza Musthafa said employee rights and entitlements will not be affected by the change.
“We have revised the policy such that prior authorisation is required if administrative staff need to work beyond 2:00pm,” she said.
She added that operational activities involving vessels and related services will continue without changes.
“Our objective is to minimise expenditure while enhancing revenue generation,” she said.
MIFCO also stated that retail fish shops will continue to operate under existing hours.
Last week, Bank of Maldives introduced a similar measure, reducing its working hours to 3:00pm. Under the policy, staff working beyond the set hours must obtain prior approval.
The measures follow changes in global fuel prices linked to developments in the Middle East. Several countries have introduced measures to manage costs, including adjustments to working hours and work arrangements.
