Revenue generated from island leased for agriculture has fallen.
According to statistics released by Maldives Inland Revenue Authority (MIRA), MVR 7.3 million has been received from islands leased for agriculture thus far this year, while over MVR 8 million was received during the same period last year.
Although the overall revenue from the islands declined, the revenue generated during May increased significantly, with MVR 1.2 million generated during May. MVR 499,922 was generated during May last year.
According to Agriculture Ministry, 77 islands have been leased for fishing and agriculture purposes, out of which 50 were exclusively leased for agriculture. 15 islands have been leased for fishing purposes, while 8 islands are being used for both agriculture and fishing. Three islands have been leased for research purposes while another has been leased for pearl farming.