FSM to sell discounted fuel to fishermen; credit available
Under the credit scheme, fishing vessels will get 15 days to pay for the fuel.
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By
Ahmed Naif
State-run fisheries company MIFCO has handed over its fuel storage facilities to Fuel Supplies Maldives (FSM), a subsidiary of STO, to sell fuel to fishermen at cheaper rates.
In the past, MIFCO used to do the business of selling fuel at its facilities.
FSM and MIFCO signed an agreement on Tuesday to carry out fuel sales at all its facilities.
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Mohamed Gasam, MD, signed the agreement on behalf of FSM
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Ismail Fauzi, MD, signed on behalf of MIFCO
MIFCO says under the agreement:
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FSM has started selling fuel directly to fishermen in Addu and GA. Kooddu since Tuesday
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FSM to sell fuel in Lh. Felivaru from 3 February
The FSM said that under the agreement, it will sell fuel to the fishermen:
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MVR 17.06 per litre
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Currently, the common rate for crude oil is at a much higher rate
'Limited oil sales problem will be resolved'
Commenting on the deal, FSM MD Gasam told Atoll Times on Wednesday that the biggest convenience that fishermen will get with the deal is to get fuel without any hassles. He said that MIFCO was unable to supply enough fuel at times as it had to buy it from FSM while selling it. That was why, in many cases, the boats were being refuelled with limits, Gasam said.
"With this agreement, we have finally ended the sale of crude oil with a further limits," Gasam said.
Can also sell fuel for credit
Gasam said FSM started selling fuel with a credit scheme for fishermen. He added that the boats will get 15 days to pay for the fuel. Gasam said the amount of fuel to be sold on credit for each ship will be decided based on the size of the engine in the vessel.
He said the credit scheme would be given to the boats only after an agreement is signed between MIFCO and FSM. In case of non-payment of dues for the oil released to credit, the amount paid for the oil under the agreement will be deducted from the money paid to the fishing boat, he said.
"The decision to give 15-day credit was also taken to make it easier for the fishermen. As of now, MIFCO pays these boats within 15 days for the fish caught. So, we can pay during that period without any difficulty," Gasam said.
Fuel sale in other areas
Gasam said that in addition to MIFCO's facilities, discussions are also underway to sell fuel at big fish plant in K. Himmafushi and Horizon Fisheries' plant in L. Manadhoo. He, however, said the talks were still at a very old stage.
"Hopefully, we will start selling fuel at all the centres serving fishermen in the country. This will be good for their business as well. If they don't get oil from one place and without running out, then their business will also be good," Gasam said.
In November, FSM had also started selling fuel to fishermen at cheaper prices at Ensis' fish-weighing jetty in Hulhumale. Fuel was also sold there as part of an agreement with Ensis.
