This decision will exempt any employees receiving a salary below MVR 12,000 and those working in banks.
President Dr Mohamed Muizzu has announced special measures as part of the government's economic reform agenda, which includes a 10 percent salary deduction for employees earning more than MVR 12,000 in state owned companies.
In a post on social media platform X last night, President Muizzu stated that the salary cuts will apply to employees of state-owned enterprises, excluding banks. This reduction will affect both political and non-political employees.
However, this decision will exempt any employees receiving a salary below MVR 12,000 he said.
President Muizzu has also decided to implement a 10 percent salary deduction for all state leaders and political appointees. This includes the leadership of state-owned enterprises, Members of Parliament, and judges. The pay cut will be in effect for a period of two years.
The President has also decided to deduct 10 percent from of all state leaders and political appointees by ten percent as well. Among these are also the leadership of state owned enterprises, Members of the Parliament and Judges for two years.
In addition, the President has decided to forgo 50 percent of his own salary. According to the country's laws, the salary of a sitting president should be MVR 100,000. However, President Muizzu will now receive MVR 50,000 each month.
The government had earlier decided to take several measures to cut government expenses amidst the country's poor financial standing.
The government has been obliging, even going as far as removing 228 political appointees within the first year of its administration. The President said this would save the state MVR 5.7 million a month.
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