The Maldives Industrial Fisheries Company Limited (MIFCO), the state‑owned enterprise central to the nation’s fishing economy, disbursed more than USD 315,000 to local fishermen last week, according to its latest statistical report.
Over the course of the week, MIFCO processed catches from 136 fishing vessels, resulting in total payments of USD 315,800. The busiest day came on 16 February, when 31 vessels delivered their catch and collectively received USD 65,530.
Of the weekly total, USD 251,700 was allocated to 126 vessels for skipjack catches. Yellowfin tuna payments were classified by weight: 56 vessels received USD 30,200 for catches exceeding 10 kilogrammes, while 57 vessels were paid USD 33,630 for catches weighing more than 15 kilogrammes. With these transactions, cumulative disbursements to fishermen for the current month have reached USD 1.08 million.
Strengthening the fisheries industry has been identified as a central government priority, with officials highlighting its position as one of the country’s primary sources of revenue. To secure long‑term growth, the administration has advanced infrastructure projects aimed at doubling national fish storage capacity and modernising processing facilities. At the same time, authorities are developing comprehensive strategies to diversify the industry, ensuring sustained expansion and viability.