Fisheries Minister Ahmed Shiyam has said that there are challenges in obtaining loans from abroad as well as abroad due to the financial discipline adopted by the previous government.

In a post on X today, Shiyam said that when President Dr. Mohamed Muizzu took over the government, there were MVR 250 million due to the fishermen, and so far, MIFCO has paid more than MVR 276 million to the fishermen with the help of the government.

"However, it is a good time for fisheries by the grace of God but there is MVR 190 million yet to be paid to the fishermen due to increase in fisheries," Shiyam said.

He said efforts were being made to find a facility with a sovereign guarantee at President Dr. Muizzu's request to pay the dues to the fishermen, but the previous government's of money printing and financial discipline made it challenging to get a facility both at home and abroad.

"Despite this, we are confident that the existing backlog will be cleared and the fishermen will be paid by the rules," he said.

While Shiyam said it was difficult to get a loan, President Dr. Muizzu had earlier said the government would try to provide the fishermen with the money even if the government has to take a loan.