In the last three years, the State has spent MVR 2.8 million (USD 181,000) on fuel subsidies for fisherman in 2019, 2020 and 2021.
In response to an inquiry from Ibrahim Rasheed, MP for Maafannu-Medhu Constituency, the Finance Ministry revealed the amount of sovereign fuel subsidy spent by the state budget.
Ibrahim Rasheed, MP, has inquired about the amount paid by the state on fuel subsidies for the fishing industry, as well as state budget expenditure on oil prices.
In answer to these inquiries, Finance Minister Ibrahim Ameer provided information on the amount spent on fuel subsidies for fishermen over the last three years.
Amount spent on fishermen’s fuel subsidy:
- 2019 – MVR 167, 280
- 2020 – MVR 1,323,786
- 2021 – MVR 1,323,480
Fuel subsidy is provided to fishermen through the Ministry of Fisheries. Finance Ministry refunds 5 percent of the import duty from the amount spent on the oil expenditure by the fishermen.