Hasty projects fuel rising debt and spending: Saleem

MP for Eydhafushi Ahmed Saleem (Red Wave) has said last night that the result of implementing hasty projects without consideration for Maldives' budget and economy is an alarming increase in debt and spending.

Saleem made these comments while speaking at a rally at ruling People's National Congress (PNC) party hub.

Saleem, one of the most prominent businessmen in the country, said that Maldivians today are having to face the consequences of such unplanned project implementation.

"This needs to be stopped at some point and the country brought back on the right track. This is a burden that must be carried by citizens as well, for the nation and the future. For our children," he said.

Saleem said that this government, too, has the option to run projects in this manner. This includes printing money as needed, selling islands below cost, or taking loans.

"Lots of ways of funding are known. But what is the result of making money in that way? We are at this point now because this was done before," Saleem said.

"How many uninhabited islands are there? There are lots of people who will buy them if its sold at low prices. If all these islands are sold within these five years, then Dr Muizzu will be stress-free and face no financial difficulties, no constraints in foreign currency. We can sell all these lagoons and everything else. But that would be treason against the country. President Muizzu deserves our gratitude for not doing such a thing," Saleem said.

Saleem said that there are development projects being conducted in Maldives now as well, but said that projects can only be implemented in consideration of the economic situation.

Speaking more on the economy, Saleem claimed that when President Muizzu came to office, each government company carried a debt of between MVR 3 to 6 billion.

Saleem, who also chairs the Public Accounts Committee in parliament, said that the committee is conducting research into the status of companies during the administration of former President Ibrahim Mohamed Solih. He cited this research and said that at the time, Fenaka had also racked up losses of MVR 4 billion through purchasing goods at high prices and and contracting work at increased prices.

"It wasn't loss, it was theft. These details must be made known to the public. When we consider all the companies, about MVR 10 billion was stolen from them in those five years. I am saying that about MVR 10 billion was stolen through buying products at prices higher than market rates and contracting work at raised prices," Saleem said.

"President Muizzu's administration is now reaching the two year mark. Even to date, the President is maintaining with what this country gets, without taking too much loans. To pay salaries, he doesn't need to go seek money from some businessman. Salaries are also paid on time, month to month," Saleem said.