Former President Ibrahim Mohamed Solih has attributed the increase in fish prices towards the presidential election to his government's decision to cut duties on fish exported to Europe and the UK during his bid for re-election.

He highlighted that this policy aimed to increase the earnings of fishermen based on the increased market access provided by these duty cuts.

Speaking on Rajje TV's "Fashaairu" program, Solih highlighted significant issues plaguing the sector, including inadequate support for fishermen and outdated policies hindering its development.

Solih emphasized that during his administration, efforts were made to enhance the fisheries industry, pointing to initiatives such as the expansion of the Felivaru factory and the establishment of storage facilities in Felivaru, Addu and Hithadhoo.

He underscored the importance of boosting local fish processing capabilities to increase export value, suggesting that the current reliance on raw fish exports processed abroad was limiting potential gains in European markets.

During his tenure, an audit report disclosed that the government had to allocate approximately MVR 250 million beyond its budget last year to subsidize MIFCO, coinciding with former President Solih's decision to raise fish prices to MVR 25 in the lead-up to the presidential election.

In contrast, Fisheries and Marine Resources Minister Ahmed Shiyam defended the current administration's record, asserting that significant funds had been disbursed to fishermen since assuming office.

He noted that over MVR 933 million had been allocated to support fishermen under the present government.