50 percent of PSIP budget will be dedicated to housing: President

President Dr Mohamed Muizzu announced last night that in every future year's State budget, fifty percent of the fund allocation for Public Sector Investment Program (PSIP) will be dedicated for housing projects.

The President made these remarks while speaking at the opening ceremony of the ruling People's National Congress (PNC) hub, located in a hall in front of Artificial Beach which previously housed political party hubs for The Democrats, and earlier, Maldivian Democratic Party (MDP).

He said that true to his pledges in the run up to the presidential election, the highest priority will be given to resolving housing difficulties.

The President said that the current State budget is one that was approved by the MDP-led 19th Parliament, which does not allow for him to fulfill his pledges.

He expressed confidence that from the next year, the ruling party led 20th Parliament would approve State Budgets that will focus on planned projects.

As such, he announced that half of the budget allocation for PSIP projects would be dedicated to housing programs.

"At least 50 percent every year will be allocated for building homes. This is something that has never been done before in the Maldives," he said.

Reiterating his pledge to ensure no citizen is left without adequate housing by the end of his term, the President said that the currently halted Rasmale' project will also resume in the coming month. He stated that in accordance with the plan, 1100 hectares of land will be reclaimed by the end of the year.

He further said that the housing programs in Hulhumale' Phase 3, Gulhi Falhu and Giraavaru Falhu will continue within the economic agenda.

President Muizzu said that in addition to housing, his administration will be prioritizing facilitating ways to increase income, introducing new tourism products, as well as increasing employment opportunities.