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MPL to Charge Ship Fees in USD Amid Dollar Shortage

MPL to Charge Ship Fees in USD Amid Dollar Shortage

Maldives Port Limited (MPL) is set to switch to charging ship fees in US dollars, according to Managing Director Mohamed Wajih Ibrahim. This move aims to ease the nation’s dollar shortage and increase foreign currency reserves.

In an interview with online newspaper “Mihaaru,” Ibrahim explained that currently, importers pay for boat fees in Maldivian Rufiyaa, resulting in a 20% surcharge compared to dollar payments. He emphasized the unfairness of this system, citing the airport’s practice of paying boat fees in dollars.

“We believe it’s better for MPL too to charge fees in dollars from agents and ships,” Ibrahim stated. He confirmed that discussions with some agents have already taken place, with positive responses regarding the switch to dollar payments.

While the exact timeline for implementing dollar-based fees remains unclear, Ibrahim assured that boat agents and owners will be notified soon. This decision is likely to impact various parties involved in Maldivian maritime trade, including importers, exporters, shipping companies, and ship agents. However, the potential economic benefits associated with increased dollar inflow and a fairer fee structure are expected to outweigh any initial challenges.

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MMJ News Desk
Author: MMJ News Desk

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