Business Business / MIFCO Kooddoo Impact 6.0/10 1 min read

MIFCO settles all fishermen payments at Kooddoo and Addu complexes

Maldives Industrial Fisheries Company (MIFCO) cleared all outstanding payments for fish purchased at Kooddoo and Addu complexes. Between November 17, 2023 and November 15, 2024, MIFCO paid USD 59.4 million for 50,588 metric tons of fish. A backlog of USD 1.9 million remains for fish caught between October 28 and November. When current government took office, USD 16.2 million was owed; now all outstanding payments settled. Government committed to releasing payments within two weeks going forward.

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Maldives News Network

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Published

Nov 28, 2024

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📋 Story Brief

Maldives Industrial Fisheries Company (MIFCO) cleared all outstanding payments for fish purchased at Kooddoo and Addu complexes. Between November 17, 2023 and November 15, 2024, MIFCO paid USD 59.4 million for 50,588 metric tons of fish. A backlog of USD 1.9 million remains for fish caught between October 28 and November. When current government took office, USD 16.2 million was owed; now all outstanding payments settled. Government committed to releasing payments within two weeks going forward.

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14:51

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Maldives News Network

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