Fisheries Minister Ahmed Shiyam on Monday said there would be no change in the subsidy given to fishermen to buy fuel even if the state-run fish company MIFCO reduced the purchase price of fish.

Previously, fish was purchased at MVR 20 per kg, but starting today MIFCO will be buying fish based on the price of fish in the international market. As such, MIFCO said the company will fix the purchase price of fish per week.

With the reduction in the purchase price of fish, the Bodukanneli fishermen's union has demanded an increase in fuel subsidy.

In a meeting held by the Fisheries Ministry and MIFCO today, Shiyam, in response to a reporter's question on whether the government plans to make any changes in fuel subsidy, the Minister said there were no such plans as of now. He added that the Administration should not do anything at present as it would lead to a higher expenditure and reduced revenue.

"For now there is no plan to make any changes in fuel subsidy," the Minister said.

The minister said that if fish is bought for MVR 20, MVR will have to pay MVR 560 million annually as subsidy, but with the new changes, it is being reduced to MVR 250 million.

MIFCO also pays a hefty amount to fishermen every year in the form of oil and ice subsidies.