Chairman of MIFCO, Ahmed Shaheer have said that when MIFCO became a subsidiary of STO, the shareholders of STO and fishermen are benefitting from it. He said that even now fishermen are seeing positive changes.
Speaking to the press at STO head office Shaheer said that once MIFCO became an STO subsidiary, they finished auditing the company. He said that they also did a management audit are now improving areas that need improvement.
Shaheer said that it is the biggest aim of the president to make MIFCO a company which serve the fishermen. He said that hence even now the company has provided many services to the fishermen. “Now they will get paid for the fish they sell to MIFCO on time. They also get fuel at discounted prices. Ice will be available from 10 ice plants. We are repairing the 11th ice plant” said Shaheer
Shaheer said that even though the price of raw fish has decreased in world markets, the president does not want fishermen to face any loss due to this. He said that hence they will work hard to make sure that fishermen make the maximum possible profits.
He further said that when MIFCO became a subsidiary of STO, the company was in a bad state. He said that even though MIFCO was split into three companies, MIFCO was never given the money that should be given as compensation.
“Loans were not paid regularly. Kuddoo, Felivaru, Kanduoigiri and boats of MIFCO were in need of repair. MIFCO was in great debt” said Shaheer.
At that time, the debt of MIFCO was 388 million Rufiyaa. Out of which 100 million was owed to STO and 6 million was to fishermen. Shaheer said that with the changes brought to MIFCO, they will make MIFCO a world class company and the shareholders and fishermen will benefit from it.
Shareholders of STO and fishermen are benefitting from it when MIFCO became an STO subsidiary: Shaheer
