The Economic Council has decided to reduce the purchase price of fish from state-run fish company MIFCO to MVR 20 per kg from MVR 25 per kg.

One has come to know the decision to reduce the purchase price of fish to MVR 20 in view of the prevailing economic situation in the country was taken at the last meeting of the Economic Council, but the government is yet to announce the decision.

The economic council's decisions will be implemented only if the President accepts it.

The purchase price of fish was increased to MVR 25 per kg during the last days of former President Ibrahim Mohamed Solih's tenure.

The hike in the purchase price has raised concerns among some private companies involved in closing fish, including that Ensis Fisheries has stopped buying fish and shut down its factoryas well.