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Finance Ministry to fulfil five 100-day pledges

25 December 2018, MVT 16:07
A press conference by the Finance Ministry.
25 December 2018, MVT 16:07

The Ministry of Finance, on Monday, revealed that it aims to accomplish five of President Ibrahim Mohamed Solih’s 100-day pledges.

The Finance Ministry has committed itself to fulfil the following pledges:

1. Renegotiate loans and agreements that could threaten the sovereignty of the state and potentially result in debt

2. Revise and research amendments to state expenditure through the pay commission

3. Abolish taxes on menstrual hygiene products

4. Enable citizens to use pension to fund pilgrimage

5. Publicize how green tax revenue is utilized

While three of the aforementioned pledges have already been fulfilled, the official ministry website also stated the level of progress on the remaining two vows.

The amendment to Goods and Services Act to abolish the six percent tax on menstrual hygiene products was ratified on December 5.

The government announced their intention to renegotiate the terms of several Chinese loans to lengthen repayment periods and cut down interest rates, on December 20.

Amendments to state expenditure have also been researched and compiled through the pay commission.

While the Finance Ministry confirms that 50 percent of the pledge regarding green tax has been fulfilled, the Ministry of Environment announced its decision to create a fund to manage revenue sourced from green tax, on December 1.

A bill proposing to enable the utilization of pension funds to finance 50 percent of pilgrimage cost was submitted to the parliament on December 11. According to the Finance Ministry, 90 percent of the pledge has been fulfilled.

The recently elected president has pledged to fulfil a total of 161 vows, spanning 23 sectors within a 100 days.

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