Government to settle outstanding payments to local businesses within 5 weeks: President Muizzu

President Dr. Mohamed Muizzu has announced that the government will be able to settle all outstanding payments owed to local businesses within the next five weeks.

In a post on his official X account tonight, the President stated that when he assumed office, the government had accumulated thousands of unpaid bills for work carried out by local businesses. He added that all bills submitted to the government and state-owned enterprises, according to relevant rules and regulations, will be paid within the five-week period.

However, the President did not disclose the total amount currently outstanding.

He described the development as a major achievement in the government’s broader efforts to revive the economy.

Finance Minister Moosa Zameer echoed the President’s remarks, stating that the President had directed both the government and state-owned enterprises to prepare for the disbursement of funds to local businesses.

“As per the President’s instructions, we have done the necessary groundwork. Hopefully, the money will be released within the timeline he mentioned,” Zameer said.

He added that the pending payments include dues carried over from the previous administration led by the Maldivian Democratic Party (MDP).

Earlier this year, during a visit to the GA. and GDh. Atolls, President Muizzu stated in Hoandedhdhoo that MVR 500 million was owed to local contractors, a figure he indicated would be settled within the coming weeks.

In November last year, the President announced that the government had disbursed MVR 6.6 billion to companies within 51 weeks.