President Dr. Mohamed Muizzu has announced new incentives for fishermen, including higher fish purchase rates and reduced fuel prices.
From Today, MIFCO will buy fish weighing over 1 kilogram at the highest rate. Previously, only fish above 1.5 kilograms qualified. The minimum price is set at MVR 16 per kilogram, with higher rates paid when market prices rise.
Fuel prices will also be cut. Fishermen selling more than three tonnes of fish will pay MVR 13.72 per litre. Others will pay MVR 13.90, while the public rate is MVR 14.43.
Speaking at Fishermen’s Day celebrations in R. Dhuvaafaru, the President said the measures reflect two years of efforts to revive the fisheries sector and strengthen coastal livelihoods.
