News Desk
MALE’ — The government has disbursed more than MVR 1.1 billion to local fishermen since the implementation of a policy guaranteeing payments within 48 hours of catch delivery, according to Ahmed Shiyam, Minister of Fisheries and Ocean Resources.
Addressing a press conference at the President’s Office on Wednesday, Minister Shiyam detailed the administration’s ongoing efforts to stabilise the fisheries sector, which he noted was burdened by significant outstanding payments when the current government took office in 2023. At the time of the transition, the state owed approximately MVR 250 million to the fishing community.
“Since December 2024, we have adhered to a policy of issuing payments within 48 hours,” Minister Shiyam said. “As of this month, we have successfully disbursed MVR 1,175,803,626.60 under this commitment.”
The 48-hour payment cycle was a key campaign pledge of President Dr. Mohamed Muizzu, intended to alleviate the financial strain on the nation’s fishermen.
During the briefing, the Minister acknowledged the challenges posed by global volatility and announced government efforts to ensure fuel accessibility. Currently, fishermen in most atolls can purchase fuel at State Trading Organization (STO) rates. Minister Shiyam admitted that availability in Laamu and Meemu atolls remains inconsistent, adding that the government is working on a permanent solution to ensure daily supply at regulated prices in these regions.
Central to the government’s long-term strategy is the expansion of the nation’s cold storage capacity, which currently stands between 9,500 and 11,000 tonnes. The administration aims to increase this to 25,000 tonnes to ensure better market prices for Maldivian produce.
Minister Shiyam confirmed that cold storage projects are underway across seven islands:
- Felivaru: Construction is nearing completion, with the facility expected to be operational by the end of this year.
- Kooddoo: Expansion works are currently in progress.
- Thinadhoo City: A 1,000-tonne facility, previously stalled due to funding issues, is being fast-tracked for completion by the final quarter of this year.
- Ihavandhoo: Construction of a 1,000-tonne storage facility will commence following the completion of the local harbour.
- Mulak: Service is expected to begin next year following the completion of a combined cold storage and ice plant facility.
- Kanduoithegiri & Hirilandhoo: Projects in these locations are also currently advancing.
The Minister emphasised that as 85 per cent of Maldivian fish exports are currently sold as raw product, value addition is vital for economic growth. To this end, the government is increasing the processing capacity of the Felivaru cannery to 100 tonnes per day, while simultaneously developing new fish processing plants in Fiyoaree and Nilandhoo.
