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'I do not believe in rent control': Minister Fayyaz

Mariyam Malsa
05 March 2020, MVT 22:18
Minister of Economic Development Fayyaz Ismail speaking at the parliament. PHOTO: PARLIAMENT
Mariyam Malsa
05 March 2020, MVT 22:18

Minister of Economic Development Fayyaz Ismail, on Thursday made the declaration that he did not believe rent control was beneficial. He cited property rights and individual rights as his reason for opposing the widely popular proposal, on Maldivian social channels, calling for implementation.

The minister made these statements during a parliamentary meeting held to collect public opinions on the Minimum Wage Bill, in response to a number of individuals having expressed the importance of rent control in the greater Male' region within policies to create income equality.

Minister Fayyaz asserted that owners of private property should have the right to set rent prices.

"The government should not be able to decide on the rent to be charged while I pay off a 12 percent interest loan", said the minister.

However, the minister noted that he supported imposing lower rent for properties that are state-owned.

Stating the inevitability that differences of opinion would arise over such matters, the minister added that the government would work to operate in a moderate manner inclusive of everyone's opinions.

The Male' Tenant's Union (MTU) recently filed a petition with over 800 signatures to the Parliament demanding rent control. MTU stressed that rent was often set at exorbitant rates compared to average household incomes and called for urgent action regarding the matter.

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