MIFCO has announced that it will settle the outstanding payments owed to fishermen by the end of next week.

The company stated that it has been in discussions with the Fisheries Ministry and the Finance Ministry since the beginning of this month regarding unpaid bills for fishermen. As a result of these discussions, a solution has been reached to disburse the funds.

MIFCO said that the company has been made aware of the government's plans to release the necessary funds by next week.

The statement also highlighted that the government is providing full support to MIFCO in resolving the issue. According to MIFCO, the company has already disbursed over a billion MVR to fishermen between November 17 of last year and July 14 of this year.