Maldives Industrial Fisheries Company Limited (MIFCO) has paid USD 5.76 million to fishermen in the first quarter of 2026.
During the first three months of the year, MIFCO purchased approximately 5,000 tonnes of fish from local vessels.
According to MIFCO statistics, the company purchased 2,454 tonnes in January, 1,108 tonnes in February, and 1,625 tonnes in March, bringing the first quarter total to 5,186 tonnes.
The highest payout was recorded in January, with USD 2.61 million disbursed. In February, MIFCO paid USD 1.23 million to fishermen, while USD 1.90 million was paid in March.
The government has prioritised the development and strengthening of the fisheries sector, with the aim to expand it as the country’s largest income-generating sector.
Although there were previous delays in payments to fishermen, they are now paid within 48 hours of purchase. While fish purchase rates have improved, the government has also arranged for fishermen to purchase fuel at lower prices across the Maldives.