Finance Minister Moosa Zameer said today that development projects will be implemented according to the priority list set by President Dr. Mohamed Muizzu, and projects will be carried out in all islands of the Maldives next year.
Finance Minister Moosa Zameer said today that development projects will be implemented according to the priority list set by President Dr. Mohamed Muizzu, and projects will be carried out in all islands of the Maldives next year.
Responding to questions in Parliament today, Zameer said that previous budgets showed that projects with small allocations often remained stalled. He added that projects sometimes remain incomplete due to a lack of budget space or cash flow.
"We saw years ago that even MTCC was assigned projects almost daily, and in the end, MTCC's pipeline had about 18 billion rufiyaa worth of projects with no way to finance them," he said.
According to the budget book, 12.4 billion rufiyaa has been allocated for PSIP projects. Of this, three billion rufiyaa was budgeted for new projects initiated by the government.
Zameer said that the funding required for projects has been determined and submitted to the President, and projects will proceed according to the priority order set by him.
"I assure you that every island is included in the current list. We aim to launch projects across all islands, cities, and in Malé next year," he stated.
Zameer stated that project details will be announced as budget space becomes available.
While previous years' budgets included details of PSIP projects for individual islands, including project names, allocated budgets, and current stages, some parliament members have expressed concern about the lack of project details in this government's first budget.
According to the budget, the largest allocation is for housing projects, with 1.5 billion rufiyaa included. Additionally, 600 million rufiyaa has been allocated for airport projects and 222 million rufiyaa for health sector projects.
This year, 11 billion rufiyaa has been budgeted for PSIP, which is higher than the amount initially proposed for this year. It includes approximately 3,000 projects.
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