Minister of Finance confirms MVR1b worth projects done


The Maldives Minister of Finance, Mr Ibrahim Ameer on Tuesday, 08 October 2019, confirmed that the under the current administration a total of 42 projects with the combined total of MVR1 billion has been completed.

During the parliamentary session where the Maldives Minister of Finance was summoned for inquiry by the lawmakers, the Minister himself confirmed this upon questioned by the Kaasidhoo MP Mr Abdulla Jabir.

The lawmaker had inquired about the project completion status and the state’s expenditure on these projects.

Minister Mr Ameer while responding to the inquiry confirmed that the Maldives government has already paid MVR759.8 million out of the total MVR1 billion on all of the completed projects.

In addition to this, Minister had also disclosed that the government has assigned several contractors with 136 various developmental projects which have a combined worth of MVR3.8 billion. These include a total of 29 distinct projects at 43 islands.

In his explanation about the state-initiated projects, Minister detailed on the funding noting that the expenditure is covered through the state budget as well as raising funds or finances through local financial institutes or banks and with the grants received from foreign allies.

He added that the grants include the budget support of USD200 million from the Indian government and the MVR300 million raised from the transaction and sales of T-Bills.

At the parliamentary session on Tuesday, Minister confirmed the itineraries of the Public Sector Investment Project (PSIP) will be realized while asserting that several projects under the PSIP are currently underway.