Last year the Maldives' Government Ministry of Fisheries launched a Maldives Rufiyaa (Rf.) 100 million (USD 7.8 million) fuel subsidy program aimed at those vessels registered with the ministry.
According to the fisheries ministry a sum of Rf.300, 000 (USD 23,400) are given out as fuel subsidy to fishing vessels of 85 feet in length and more. Vessels between 65 feet and 84 feet in length are given Rf.200,000 (USD 15,600) while vessels between 64 and 45 feet are given Rf.70,000 (USD 5,400). For vessels less than 45 feet in length a fuel subsidy of Rf.20,000 (USD 1,500) is given. According to the fiseries ministry some 1082 fishing vessels were registered in June 2008.
Government officials said that the programme had not resulted in an increase in fishing capacity, rather the usual number of vessels went out for fishing.
Hereunder is the link to a press article on the above subsidy programme:
http://www.maldiveschronicle.com/fishermen-not-increasing-despite-fuel-subsidies/
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