MIFCO Faces Criticism for Unpaid Dues to Fishermen
Fishermen in the Maldives have not been paid by MIFCO for over two months, with associations from Haa Alifu, Thaa, and other atolls raising concerns. Former STO MD Hussain Amr also expressed concern. Fisheries Minister Ahmed Shiyam announced that the Muizzu administration paid MVR 190 million of the MVR 200 million outstanding, but President Muizzu stated MVR 140 million remains unpaid. MIFCO's financial troubles trace to a 47% price hike for skipjack tuna on 17 September 2023, which analysts deemed unsustainable. Shiyam committed to lowering the price, with a floor of MVR 20 set by the President. MIFCO CEO Ahmed Samah Rasheed has not responded.
Fishermen in the Maldives have not been paid by MIFCO for over two months, with associations from Haa Alifu, Thaa, and other atolls raising concerns. Former STO MD Hussain Amr also expressed concern. Fisheries Minister Ahmed Shiyam announced that the Muizzu administration paid MVR 190 million of the MVR 200 million outstanding, but President Muizzu stated MVR 140 million remains unpaid. MIFCO's financial troubles trace to a 47% price hike for skipjack tuna on 17 September 2023, which analysts deemed unsustainable. Shiyam committed to lowering the price, with a floor of MVR 20 set by the President. MIFCO CEO Ahmed Samah Rasheed has not responded.
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Fishermen in the Maldives have not been paid by MIFCO for over two months, with associations from Haa Alifu, Thaa, and other atolls raising concerns. Former STO MD Hussain Amr also expressed concern. Fisheries Minister Ahmed Shiyam announced that the Muizzu administration paid MVR 190 million of the MVR 200 million outstanding, but President Muizzu stated MVR 140 million remains unpaid. MIFCO's financial troubles trace to a 47% price hike for skipjack tuna on 17 September 2023, which analysts deemed unsustainable. Shiyam committed to lowering the price, with a floor of MVR 20 set by the President. MIFCO CEO Ahmed Samah Rasheed has not responded.
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