Chairman of MIFCO Ahmed Shaheer have said that major problems at MIFCO has been resolved and the company will progress as a profitable company.
Speaking to the press at the head office of STO, Shaheer said that MIFCO always receives orders and problems arose when MIFCO was not able to supply to the rising demand. He said that MIFCO cannot make profits by exporting raw fish, and they can make profit by exporting value added products like canned fish. “There is a cannery in Felivaru with a capacity of canning 50 tons of fish per day. But the related infrastructure is not established there. We are planning to develop the infrastructure and start operations at full capacity” said Shaheer.
In addition, he said that in the next 4 months, fish will be packed in pouches and they have found buyers for these products. “Even before we got orders. But lost the trust of the buyers because MIFCO could not supply. Now we are bringing buyers for audit. Now they are happy and ready to work with MIFCO” said Shaheer.
Shaheer said that till now, MIFCO’s main export was raw fish, and he said that it is not possible to make profits with raw fish. “If the fisheries industry is good in any part of the world, the price of raw fish fluctuates. But price of canned fish does not change. So the solution is making more fish products” said Shaheer.
He said that since Maldives is the only country in the world to fish in an environmentally sustainable way, which is accepted by the Green Peace, the demand for Maldivian fish products are high abroad. He said that Maldivian fish products get a good price in the UK market because of this. In addition, he said that the demand for Maldivian products are increasing in Australia and Germany as well.
Shaheer said that MIFCO can be made a profitable company if managed properly.
Major problems of MIFCO has been solved – The company will progress as a profitable company : Shaheer
