Fishers fear 'bankruptcy' as MIFCO plans price hike

4 hours ago

Private fisheries companies are sounding the alarm over the potential for widespread bankruptcies and economic instability following President Dr. Mohamed Muizzu's announcement that the state-owned Maldives Industrial Fisheries Company (MIFCO) plans to increase its tuna purchase price to MVR 20 per kilogram. The Maldives Seafood Processors and Exporters Association (MSPEA) issued a statement on Thursday, expressing grave concerns to the government.