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Projects conducted at half the cost: Finance Minister

Raif Amyl Jalyl
28 August 2019, MVT 14:49
Minister of Finance Ibrahim Ameer issuing a press release on December 3, 2019. PHOTO: AHMED NISHAATH/MIHAARU.
Raif Amyl Jalyl
28 August 2019, MVT 14:49

Minister of Finance Ibrahim Ameer on Tuesday declared that government projects are currently underway at MVR 30 million, whereas it was previously conducted at the price of MVR 70 million during the prior administration.

The Finance Minister revealed at the Parliament that the expenditure for the projects greatly decreased due to the administration contracting the projects under an open tendering process.

"We are currently using MVR 30 million for water and sewerage systems, whereas it previously cost MVR 70 million", said Ameer.

Ameer further affirmed his guarantee that the tendering of all projects listed under the Public Sector Investment Program (PSIP) would commence imminently.

The government's proposed MVR 1.7 billion supplementary budget was forwarded to the Parliament floor for debate and was subsequently approved on Tuesday.

With the motion approved, the total budget of the state would reach MVR 31.9 billion.

Ameer further revealed that the state expenditure has from January- August reached 50 percent of the budget for the year.

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