Fisheries Minister Ahmed Shiyam has announced that all necessary funds have been secured for the government’s initiatives to enhance the fisheries sector. Speaking on PSM’s Raajje Miadhu programme, Shiyam outlined plans under President Dr. Mohamed Muizzu’s fisheries policies, which aim to provide comprehensive solutions to the industry’s challenges.

Shiyam emphasised the need to address the limited storage capacity for fish, which currently stands at 4,200 tonnes on land. Efforts to increase this capacity are already underway, with projects either initiated or fully funded. He stated that the government is targeting a combined storage capacity of 25,000 tonnes on land and sea vessels, up from the current 8,500 tonnes.

The minister noted that achieving these goals will require significant investment, estimated at around MVR 5 billion. While the state will not bear the entire cost, Shiyam highlighted the involvement of private sector stakeholders and banks in supporting the initiatives. He assured that the funds required to implement President Dr Muizzu’s fisheries policy are already secured, and the focus now is on execution.

One of the key priorities is ensuring timely payments to fishermen. Shiyam remarked that under President Dr Muizzu’s administration, early payments for fish purchases have been established as a top policy. He added that revenue from MIFCO is now being used to prioritise payments to fishermen.

Shiyam reiterated the government’s commitment to improving the fisheries sector, describing it as a top priority. The planned projects aim to provide sustainable solutions and enhance the livelihoods of fishermen across the Maldives.