Economic Council to slash fish price to MVR 20
The biggest concern of fishermen is the lack of immediate payment for the fish bought off them.
By
Shahudha Mohamed
The Economic Council has decided to reduce the price of fish bought by the state fisheries company Maldives Industrial Fisheries Company (MIFCO) from MVR 25 per kg to MVR 20 per kg.
Reliable sources told Atoll Times that the Economic Council has decided to reduce the purchase price of fish in view of the economic situation in Maldives. However, the decision has not yet been announced.
The Economic Council was established in 2012 to study the economic situation in Maldives and advise the President on immediate measures to improve the situation. The council is currently chaired by Economic Minister Mohammed Saeed.
The decisions of the Economic Council shall be implemented if the President accepts them.
The purchase price of fish was increased by former President Solih to MVR 25 in mid-September after the first round of the presidential election.
The increase in the purchase price of fish came at a time when all the candidates were making promises during the presidential election, especially focused on ensuring the fishermen folk of the country had their deserving dues. Thus:
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Jumhoory Party (JP)’s candidate pledged to increase the purchase price of fish to MVR 26
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The Democrats' Ilyas Labeeb had announced the price of fish at MVR 25 per kg
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President Mohammed Muizzu, who won the second round of elections against Solih, had said that he will not allow fish to fall below MVR 20 per kg
Fishermen's associations have expressed concern over these promises, saying it is not objectionable to buy the fish at a fixed price instead of the market rate.
Since MIFCO started buying fish at MVR 25, Ensis Fisheries, one of the largest private fisheries in Maldives, has stopped buying fish and closed its canning factory
The Fisheries Ministry said that MVR 200 million had not been paid to fishermen when the new government took over. The money is being deposited with the fishermen, Fisheries Minister Ahmed Shiyam said.
According to him:
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The biggest concern of the fishermen is the lack of immediate payment for the fish
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Therefore, President Muizzu's intention is to arrange things in such a way that a permanent solution can be brought
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The government has aimed to pay the fishermen within two weeks of purchasing their fish, Shiyam had said earlier
