President announces mechanism to disburse fishermen's payments within 48 Hours, starting Tuesday

President Dr Mohamed Muizzu has announced that the mechanism for disbursing payments owed to fishermen within 48 hours will be implemented starting Tuesday.

He made this statement in his address to the citizens of K. Gaafaru on Monday morning, fulfilling a key presidential pledge.

In his speech, the President noted that by Monday afternoon, the Administration had already disbursed MVR 38 million in payments to fishermen. Of this, MVR 32.4 million was deposited into the bank accounts of 196 individuals with accounts at BML, while an additional MVR 5.6 million was deposited into the accounts of 20 individuals with accounts at MIB. With these payments, the President confirmed that the backlog of payments had been cleared and assured that such a backlog would not occur again in the future.

The President also affirmed that fishermen would no longer face issues accessing fuel. From December 10 onwards, fuel will be available at base rates from STO and/or FSM outlets in K. Himmafushi, GA. Kooddoo, Lh. Felivaru, and S. Hulhumeedhoo. Additionally, STO will provide fuel at base rates from MIFCO boats operating in GA. Kooddoo and Lh. Felivaru.

Furthermore, the President announced that the Government would grant legal recognition to the fishermen's registry, which will offer fishermen financial opportunities and benefits. The regulation for the fishermen’s registry is set to be gazetted on Thursday. Once published, those listed on the registry will be eligible for benefit schemes provided by BML, MIB, and STO.

President Dr Muizzu emphasised that his administration is strategically working to develop and strengthen the resilience of the fishing sector. He added that the Administration is prepared to transfer the operation of ice plants to local councils if fishermen wish to maintain a decentralised governance system. He also revealed that efforts to expand cold storage capacity are already underway, with the goal of increasing fish processing capacity.

The President further expressed his commitment to enhancing the capacity and investment in the sector, ensuring that it contributes significantly to the nation's Gross Domestic Product.