President Dr Mohamed Muizzu has stated that the Government aims to ensure that the Maldives Industrial Fisheries Company (MIFCO) maintains its fish purchase price at no less than MVR 20 per kilogram.

Speaking on the President's Office's weekly programme, The Pulse, the President said one of the Government's most important measures has been aligning fish prices with market rates. He noted that the price of fish had previously stood at MVR 16 per kilogram but has now increased to MVR 20 per kilogram.

President Dr Muizzu said the Government is implementing policies to sustain the price increase by expanding fish storage capacity, adding value to fish products and increasing fish processing capacity.

He added that projects to expand the capacity of the Felivaru fish processing factory are being accelerated, with efforts underway to double or even triple processing volumes during the current administration.

MIFCO increased its fish purchase price to MVR 20 per kilogram on 9 June.