Maldives Ports Limited CEO Mohamed Wajeeh Ibrahim has said that commencing from April, the company will be accepting dollars in payment for services provided to vessels at the Male' Commercial Harbour.
Speaking in a press conference held by the company, Wajeeh said that consignees must pay in dollars to shipping agents and that while local businesses are made to pay in dollars, the ship agents make payments to MPL in the local currency. He declared that MPL has decided to bring changes to this practice.
He alleged that shipping agents exchange dollars in the black market at rates of MVR 17 or MVR 18, but pay MPL at the official bank rate of MVR 15.42.
"We are talking about USD 30 million annually. This is something that needs doing," Wajeeh said.
Wajeeh said that consignees must pay in dollars to boats and in the instance that they pay in Maldivian Rufiya, those who bring in imported goods have to pay 20 percent extra.
Wajeeh opined that he did not feel this is fair, and added that even the airport takes fees from boats in dollars. Based on this, he believes it is justified for MPL, too, to accept payments from agents and ships in dollars.
He assured that the price of goods brought into Maldives will not be affected with this change, as this is not in relation to a payment that has to be made by those importing goods into the country.
Until 2008, MPL used to take payments in dollars. This was changed, with MPL beginning to accept Maldivian Rufiya instead, owing to policy changes of the administration in power at the time.
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