Government Extends Fuel Subsidy to Yellowfin Tuna Fishermen

Mohamed Hilmy

24 March 2026, 04:33

The government has extended fuel subsidies to yellowfin tuna fishing vessels, allowing them to access reduced fuel prices through State Trading Organization (STO) facilities starting today.

The Ministry of Fisheries, Marine Resources and Agriculture confirmed that yellowfin tuna fishermen will now receive the same subsidized fuel benefits currently provided to skipjack tuna fishermen. Eligible vessels can purchase fuel at reduced rates from the FSM terminal in Hulhumalé and the FSM fuel shed in K. Himmafushi.

The decision follows concerns raised by the Yellowfin Tuna Fishermen’s Union, which had highlighted rising operational costs despite earlier government assurances on affordable fuel.

The move comes amid broader fuel price adjustments linked to ongoing tensions in the Middle East. While STO increased fuel and diesel prices for businesses, exemptions were granted to public transport providers and private island fuel sheds. MIFCO had also revised diesel prices but later confirmed that fishermen would continue receiving fuel at earlier subsidized rates.

The policy is expected to ease cost pressures in the fisheries sector, a key contributor to export earnings, while supporting operational sustainability for yellowfin tuna fishing vessels.

Government Extends Fuel Subsidy to Yellowfin Tuna Fishermen

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