205 projects to be handed over to private companies today

The government will be signing agreements with private companies for 205 projects today. 

The signing ceremony, expected to last three to four hours, will commence at 10am today at Barcelo Nasandhura. 

"All these projects will be contracted to private companies. No government companies will be included," a senior official of the Finance Ministry said. 

The costs of these projects have not been disclosed yet. 

The 205 projects include areas such as housing, Waqf buildings, turf grounds and others, the official said. 

After having faced criticism for contracting several projects to state owned enterprises, the government announced recently that many projects will soon be handed over to private companies. 

On October 2, President Dr Mohamed Muizzu stated that dues owed to local companies by the government will be paid back in full within a period of five weeks. 

He said then that at the time that he had assumed office, the government had thousands of pending unpaid bills to local companies for work completed. It has been reported that this comes to approximately MVR 2.2 billion. 

These five weeks will come to an end today.