President Dr Mohamed Muizzu stated that a sustainable system for paying fishermen within 48 hours has been established, confirming that all outstanding payments have been settled.
The President made this statement during his Presidential Address at the first sitting of the first session of the People's Majlis for 2025.
In sharing his vision for the fishing industry, the President emphasised that Maldivian fishing represents one of the most vital natural gifts tied to Maldivian identity and survival. He stressed that ensuring the industry's sustainability and maximising its benefits for Maldivians remains one of the State's foremost responsibilities.
The President confirmed the fulfilment of his Presidential pledge to establish a sustainable 48-hour payment system for fishermen, with all pending payments now cleared. He detailed ongoing developments including the establishment of cold storage facilities across different regions, fish processing plants, ice plants, RSW systems in 100 vessels, and a processing factory to enhance the tuna fishing industry. Additionally, he stated that diesel will be available at STO rates through STO this year, aimed at reducing operational costs for fishermen.
To enhance financial and administrative accessibility for fishermen, a National Registry of Fishermen has been created, with 95 per cent of active fishing vessels now registered. The President indicated that by year's end, registered fishermen will gain access to Lui Loans through the banking system and opportunities to apply for facilities such as STO credit.
The President acknowledged the national service of fishermen and fishing families as being honourably recognised by the State. He provided assurance that the Government will safeguard both the sustainability and development of the industry.
