President announces resumption of fishing subsidies
16 Apr 2012, 8:30 PM
Daniel Bosley
President Dr Mohamed Waheed Hassan has said he intends to begin resuming the payment of subsidies to fishermen within days. The President added that he would try to provide fish at better prices by increasing the promotion of pole and line fishing in other countries.
President’s Office spokesman Abbas Adil Riza has said that the money was badly needed as the industry was in “real economic trouble,” despite the government coming under pressure to cut state expenditure.
Speaking to Minivan News today, Minister for Fisheries and Agriculture Ahmed Shafeeu said that the subsidy had not been paid at all in 2011. He added that this year’s subsidies this year had not been reserved exclusively for fuel, with funding being set aside for measures to encourage investment in ice plants – for which there was apparently a high demand.
Shafeeu also spoke of the ministry’s plans, unrelated to these particular subsidies, to improve access to loans to encourage investment in the industry.
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