The Edition


42 projects worth MVR 1 billion completed: Finance Minister

Shahudha Mohamed
08 October 2019, MVT 20:27
Minister of Finance Ibrahim Ameer speaking at Tuesday's parliament session. PHOTO: PARLIAMENT
Shahudha Mohamed
08 October 2019, MVT 20:27

Minister of Finance Ibrahim Ameer on Tuesday announced that 42 projects worth over MVR 1 billion were completed since the beginning of President Ibrahim Mohamed Solih's tenure, until the end of September.

Answering a question posed by Kaashidho MP and prominent businessman Abdulla Jabir at Tuesday's parliament session, Ameer stated that MVR 759 million out of the MVR 1 billion was paid out of the state budget.

He further noted that details regarding the amount of funds paid to local contractors and foreign companies will be disclosed in the future.

According to the Finance Minister, a total of 136 projects costing a total of MVR 3.8 billion were awarded via the National Tender Board thus far.

Speaking of the current ongoing projects, Minister Ameer noted that 43 projects are ongoing in 29 islands.

"These projects were funded through domestic and foreign financing", said Ameer.

"I want to note the MVR 200 million granted by the Indian government as budget support as well as the MVR 300 million generated for domestic financing through T-bill sales", he added.

Moreover, Ameer gave assurances that Public Sector Investment Programme (PSIP) projects will be awarded and continued as speculated within the annual budget exceeding over MVR 30 billion.

"I am receiving information that mobilizing is ongoing on some islands, while work is commencing on some others".

Answering other questions posed by MPs, Ameer revealed that a decision has not yet been reached about handing over the operations of the new seaplane terminal, being developed by Maldives Airports Company Ltd (MACL) with a budget of USD 40 million (MVR 616 million), over to any particular company.

However, he confirmed that the government was currently holding discussions on the matter.