Author: Mohamed Reehaan
The cumulative total of state expenses reach MVR25.6 billion as of 15th September, reports Ministry of Finance. On the hand, state revenues reach MVR19.4 billion by the review date. State spent 73% of the budget on recurrent expenses so far in 2022, while 27% was spent on capital expenditure. Meanwhile, state earned 74% of its revenue from tax sources and remaining 26% from non-tax sources. The overall balance for the period is a deficit of MVR6.2 billion. Cumulative total of tax revenues as of 15th September stood at MVR14.2 billion. For the same period last year, it was at MVR9.6…
Chief Executive of Maldives Transport and Contracting Company (MTCC) Adam Azim stated Raajje Transport Link (RTL) broke the previous limitations of public transportation. While speaking at the officiating ceremony for Sh. Maaungoodhoo harbor development project, Azim said the citizens have been “saved from the cages” they were in. Furthermore, Azim confirms of efforts in place to address public complaints over the RTL system. “I have noticed some citizens have difficulties in purchasing tickets… but we have noted that the service is easily accessible to all for most parts,” Azim said. Earlier, MTCC launched their mini-bus services in Male’ City on…
The most recent amendment to Tourism Act of Maldives was approved by the parliament. Parliament approved the latest bill, following the earlier mishap resulting in a legal blockade on green tax collection. The assessment report of the bill was approved with the unanimous vote of all 50 MPs partaking in the session. Green Tax will be effective upon presidential ratification of the bill. In the previous amendment, the date of effect for Green Tax collection was written as 2023 by error. This resulted in a legal halt on tourist properties from collecting the tax, though properties continued to levy it.
International bunkering services for large sea carriers will launch in 2022, according to Minister of Transport Aishath Nahula. The service will launch at Haa Alif atoll Ihavandhippolhu. According to the minister, project contractors are currently developing fuel storage units for bunkering. The minister made the confirmation at the opening ceremony of Maritime Safety Week. She further noted frequency of international carriers increased post the Covid-19 pandemic. Meanwhile, current works include arranging funds for the bunkering operations, procurement of equipment. Additionally, the ministry is overseeing the draft of necessary legal framework ahead of the operation.
The opening ceremony to commence physical work of Shaviyani atoll Maaungoodhoo harbor development project, was held on Tuesday, 20th September 2022. The work on the project was officiated by Sh. Funadhoo MP Mohamed Shahi Ali along with Maaungoodhoo council president Adam Saleem. The two were joined by Chief Executive of Maldives Transport and Contracting Company (MTCC) Adam Azim in officiating the project. According to MTCC, the project contractor, harbor development in the island aims to solve logistical issues along with berthing and mooring difficulties for vessels. Project components include; New harbor basin dredging: 59,013.29 cubic-meters Harbor channel dredging: 3245.48 cubic-meters…
Housing Development Corporation (HDC) has reported of receiving over 1,400 interested applicants to buy newly developed Vinares housing flats. The flats, developed at Hulhumale’ Phase II, come in semi-luxury to luxury standards. Aimed at solving housing issues faced within the Greater Male’ region, a total of 1,344 apartments are distributed in 10 housing towers. Going at a starting price of MVR2.5 million to a maximum of MVR3 million, the apartments measure between 883 square-feet to 902 square-feet. The high-tier apartments come with three bedrooms with attached toilets. Applicants are assessed on their current living conditions, which is the basis of…
According to the most recent update from Ministry of Finance, state’s total Covid-19 spending is at MVR4.18 billion (from Q1-2020 to Q2-2022). The latest update from the ministry further confirms state’s health and social spending from Q1-2020 until Q2-2022 reached MVR2.39 billion. Economic Response Plan (ERP) spending had reached MVR1.79 billion by the last reviewed quarter. Moreover, under the Income Support Allowance a total of 93,906 disbursements have been made. The total disbursement amounts to MVR421 million. Under the Covid-19 Recovery Loan schemes, 419 parties have been assisted. Ministry of Finance reports MVR585.9 million and USD8.0 million of total disbursements…
Maldives Airports Company Limited (MACL) introduces Asset Security Services to safeguard the infrastructure and assets in Velana International Airport (VIA). Asset Security Services fall under the supervision of Safety, Security and Compliance Department of the airport; with the aim of manning, surveilling and patrolling the assets at the airport venue. The new section was introduced on Monday, 19th September. Deputy Managing Director of MACL Ibrahim Thoha commented on the challenges brought forth with new airport infrastructure development initiatives, which in turn has given rise to the requirement for extensive security protocols. Under the new service, MACL staff will guard the…
State expenditure reaches MVR25.19 billion in annual terms as of 08th September 2022, reports Ministry of Finance. According to the ministry’s most recent statistical update, revenues inclusive of foreign grants is currently at MVR19.19 billion in annual terms. State spent 73% on recurrent expenses, remaining 27% on capital expenses. On the other hand, state earned 74% of its revenue from tax sources, remaining 26% from non-tax sources. Overall balance for the review period is a deficit of MVR5.99 billion. Tax revenues in annual terms stood at MVR14.14 billion by the review date. Non-tax revenues in annual terms reached MVR4.95 billion.…
Kazakhstan extends visa exemptions for Maldivians who are traveling to the Central Asian country, effective from 14th September. Ministry of Foreign Affairs confirm the exemption allows locals holding valid diplomatic, official and ordinary passports to enter and stay in Kazakhstan for a maximum period of 30 days from the date of entry. The visa exemption is in accordance to the agreement signed between Maldives and Kazakhstan earlier on 09th May. Maldivians who wish to stay longer than the valid visa exemption period must obtain proper visa ahead of travel. Maldives government views this visa exemption to the Central Asian country…