President Dr Mohamed Muizzu has vowed to eliminate corruption within the Maldives Industrial Fisheries Company (MIFCO) and improve its financial performance. During his visit to GA. Dhevadhoo, the President shared plans to reform the state-owned fish company to better serve the country’s fishermen.

Highlighting efforts to reduce MIFCO’s expenses, President Dr Muizzu expressed his commitment to addressing corrupt practices. He stated that the Administration is taking action to remove corruption and have brought in capable individuals from outside usual circles to lead these reforms.

The President affirmed that the government is focused on strengthening MIFCO and aligning its operations with the needs of fishermen. He emphasised the importance of fisheries as a major source of income for the Maldives, adding that while tourism contributes significantly to the country’s GDP, the fisheries sector has untapped potential for growth.

Addressing issues in the fisheries industry, President Dr Muizzu noted that his administration has already fulfilled a key campaign promise of paying fishermen within 48 hours, a policy in effect since December 10. Additionally, he assured that steps are being taken to address fishermen’s concerns about rising fuel prices, with plans to provide fuel at State Trading Organisation (STO) rates within the current financial year.