President Yameen have noted that MIFCO is attaining great developments after the company was changed to a subsidiary of STO.
While delivering the annual presidential address, he said that the government handed over the administration of MIFCO, to STO and the good results of this change is being experienced by fishermen and the fisheries industry.
“Felivaru cannery has been upgraded to produce quality fish that can be sold in supermarkets in Europe, and they have now started exporting it” said the President. In addition, he said that this year a cold storage facility will be developed in Addu City.
President noted further developments that will be seen from the fisheries industry this year.
“Honorable speaker, this year a project to cultivate baits will start to help fishermen overcome the challenges they face in getting baits. Also, production of fish meals for Mari culture industry will be produced in three areas of Maldives, using bi products of fish” said the President.
Due to the problems faced by MIFCO, the cannery that was to be in developed in Hulhumeedhoo has been halted as well. Fishermen from Addu City and the southern atolls will be benefitted immensely if the cannery is completed and put into operation.
STO has brought a lot of positive changes to MIFCO. They have paid all their debts to the fishermen and started providing fuel to fishermen with low prices. In addition, they are slowly regaining the trust of international buyers.
MIFCO is attaining great developments after it was changed to a subsidiary of STO : President Yameen
