Maldives Moves Fishing Fuel Subsidy to Fahi Hakatha Portal; Registration Open Until Sept 15

The fuel subsidy provided to Maldivian fishing vessels is being moved to the Fahi Hakatha portal, with future subsidy applications and issuance to be processed through the digital system.

The Ministry of Fisheries, Agriculture and Marine Resources said the change is intended to strengthen subsidy administration. Vessel operators engaged in oceanic fishing who have not yet registered on the portal have been given until September 15 to complete their registration.

Introduced separately from the broader Fahi Hakatha programme, the fuel subsidy is available to vessels operating under a valid fishing licence. The subsidy was introduced amid higher global oil prices linked to the ongoing conflict in the Middle East and is provided in addition to the duty-free diesel arrangement available to local fishing vessels since 2019.

Since April 22, fishing vessels have been able to obtain fuel at a reduced rate from Fuel Supplies Maldives (FSM) sheds established across the country’s northern and southern regions.

Expanded Fuel Access and Credit Facility

Under the current arrangement, vessels that sell their catch to the Maldives Industrial Fisheries Company (MIFCO) can purchase diesel at MVR 17.54 per litre. The service, previously available in four locations, has expanded to 11 additional areas.

MIFCO also provides fuel allocations based on vessel length:

• Over 85 feet: 5,000 litres
• 50 to 85 feet: 3,000 litres
• Under 50 feet: 1,500 litres

MIFCO and FSM have also introduced a fuel-on-credit facility for fishing vessels. Under the arrangement, vessels can obtain fuel by presenting the bill issued after selling their catch to MIFCO. The cost of the fuel is then deducted from the payment made within 48 hours of the sale.