Fish price controls hurt small businesses, Shiyam says

Fisheries and Ocean Resources Minister Ahmed Shiyam has said that the government's price control of fish has had an adverse impact on small businessmen producing various types of fish products.

Speaking on 'SS TV', Shiyam said that there are a large number of small businessmen in Maldives who produce various items from fish.

Previously, the government fish company, MIFCO, was buying fish at a fixed price. As a result, the price of fish in the Maldivian market was controlled. However, the government has decided to adjust the purchase price of fish every week depending on the market forces.

The Fisheries Minister said the government's price controls have had an adverse impact on fish producers.

"There are people who sell dried fish. All their operations have stopped everywhere. There is no need to even talk about the price of a bottle of rihaakuru. The price of a kilo of dried fish is very high," he said.

The price of such items rose as the government increased the purchase price of fish, making it difficult for small businesses to buy fish, he said.

With the lifting of fish price controls, small businesses have started to move forward and many small businesses have applied for the loans recently opened by the government, he said.

“Already, various fish traders, fish buyers and dryers and rihaakuru makers have started their work in different parts of the country,” he said.

Determining the market price based on the price of fish in the international market is a good change, he said.