Fishermen had long voiced concerns over frequent breakdowns and delayed repairs at FENAKA-operated ice plants, an issue the company itself acknowledged.
PSM News
The Maldives government has been gradually addressing the concerns of fishermen, taking steps to further develop the nation’s vital fisheries sector. Fisheries remain one of the country’s most significant industries, providing stable employment for hundreds of families while ensuring food security for Maldivians who rely heavily on tuna-based products. As one of the few sectors not dependent on imports, its continued growth is essential for economic sustainability.
One of the key priorities towards the end of 2024 was ensuring fishermen received timely payments—within 48 hours of weighing their catch, as promised by the President. Now, two months into 2025, this commitment appears to be materializing, with the Maldives Industrial Fisheries Company (MIFCO) reporting that over MVR 7 million has been deposited across 48 fishing vessels, ensuring fishermen are paid on time.
With this critical issue being addressed, the government has shifted focus to improving industry infrastructure. A major step in this direction was the transfer of ice plants—previously managed by FENAKA Corporation—to MIFCO on February 15, 2025. Fishermen had long voiced concerns over frequent breakdowns and delayed repairs at FENAKA-operated ice plants, an issue the company itself acknowledged. Given MIFCO’s expertise in fisheries management, the transition is expected to enhance operational efficiency and provide fishermen with a more reliable supply chain.
The ice plants now under MIFCO’s management include those in H.Dh Ihavandhoo, N. Lhos, R. Alifushi, B. Thulhaadhoo, F. Nilandhoo, Th. Hirilandhoo, Ga. Dhaandhoo, Ga. Dhehvadhoo, Ga. Gemanafushi, Ga. Kolamaafushi, G.Dh Faresmaathodaa, G.Dh Fiyoari, and S. Hithadhoo. This strategic shift marks a significant milestone in the government’s ongoing efforts to strengthen the fisheries sector and support the livelihoods of Maldivian fishermen.
