MIFCO disburses over MVR 500 mln to fishermen

The Maldives Industrial Fisheries Company (MIFCO) has disbursed over MVR 500 million to fishermen as of April 5 this year.

According to MIFCO, the state fish company has issued MVR 505 million to fishermen for the purchase of 30,425 metric tonnes of fish thus far this year. This marks a 21 percent increase from the MVR 405.1 million disbursed during the same period last year, when MIFCO weighed 25,178 metric tonnes of fish.

The Kooddoo Fisheries Complex, operated by MIFCO, accounts for the highest number of fish purchases this year, buying 22,923 metric tonnes of fish and disbursing MVR 384 million to fishermen. The Felivaru Fisheries Complex and Addu Fisheries Complex also contributed to the disbursement, with MVR 58.1 million and MVR 62 million, respectively.

Last year, MIFCO disbursed more than MVR 1 billion to fishermen.