Committee on Economic Affairs

Committee on Economic Affairs 10 th Meeting 2021

15 Mar 2021 Number 10

Summary

Committee met MIFCO’s related officials regarding oil price rate of MIFCO being higher than the other parties in the market and difficulties faced by Fishermen due to higher oil prices which was proposed by North Thinadhoo constituency Member Abdul Mughnee. MIFCO revealed that oil supplied by FSM to MIFCO as of 22nd February at MVR 8.55 per liter, and to fishermen at MVR 9 per liter as company adds a margin to oil prices sold by FSM. Committee members highlighted that fishermen can buy oil from other parties such as from Gdh.Thinadhoo MVR0.10 lower than MIFCO and fishermen should by able to buy oil cheaper from MIFCO than other parties in the market since both FSM and MIFCO are subsidiary companies of STO which is a state owned enterprise. In this meeting parliament member for Central Maafannu constituency Ibrahim Rasheed proposed to meet director of public health and related officials of HPA regarding the difficulties and losses faced by small and medium enterpises, cafe’, restaurants and others in the industry due to guidelines of HPA to control Covid-19 virus in the country. Parliament member Milandhoo constituency member Al Riza proposed to meet Minister of Fisheries, Marine Resources and Agriculture to clarify about the investment opportunities, license to buy fish from local fishermen by foreigners, assistance provided to fishermen after the new Fisheries Act.

Works

15 Mar 2021

To meet Minister of Fisheries, Marine Resources and Agriculture to clarify about the investment opportunities and assistance provided to fishermen after the new Fisheries Act.

Completed

15 Mar 2021

To meet related officials of HPA regarding the difficulties and losses faced by small and medium enterpises, cafe’, restaurants and others in the industry due to guidelines of HPA

Completed

09 Mar 2021

Issue related to oil price rate of MIFCO being higher than the other parties in the market and difficulties faced by Fishermen

Completed

09 Mar 2021

Review of the issues faced by companies due to changes made to the expat system and policies relating to migrant workers in the Maldives

Completed

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