The Maldives Industrial fisheries company, MIFCO has settled MVR 70 million out of the pending payment for local fishermen.

Speaking to RaajjeMV, the fisheries company’s Manager Ahmed Nawaz Rasheed revealed that MVR 70 million was settled by Thursday and that this was the payment pending between March 26 and April 14.

Highlighting that there is very little remaining, the manager revealed that this amount will be settled into the beginning of next week.

Earlier, the company’s CEO Ismail Fauzee revealed that they have been facing hindrances in settling payments for fishermen due to the rates in the international market.

The government has decided to establish a stable system through which fishermen’s catch can be stored in the Maldives.

The Ministry of Fisheries, Marine Resources & Agriculture earlier revealed that fishing vessels will be permitted to go for fishing despite the travel restrictions placed on all inhabited islands. However, fishermen will not be allowed entry into other islands even to weigh their catch. They are required to return back to their islands afterwards.