Author: Mohamed Reehaan
The latest update from Ministry of Finance reveals state has spent a cumulative total of MVR15,307.4 million (MVR15.3 billion) so far in 2022 from its approved budget. On the other hand, earnings are comparatively slower with a cumulative total of MVR11,754.3 million (MVR11.8 billion) inclusive of foreign grants. State’s spending pattern indicates 75% of the total had been directed on recurrent needs and the remaining 25% on capital expenditure. Additionally government has earned 71% of its revenue through tax sources and the remaining 29% through non-tax sources. With a comparatively higher expenditure against state earnings, the overall balance for the…
Minister of National Planning, Housing and Infrastructure Mr. Mohamed Aslam confirms his respective ministry’s decision to announce application for land plot issuance from Greater Male’ region by late June. Mr. Aslam made the confirmation during Wednesday’s session of the parliament, and noted that the ministry will open application window for Male’ residents in accordance with President Ibrahim Mohamed Solih’s pledge. The ministry is expected to make formal announcement of application window on 26th June. President Solih’s administration earlier announced that it was working to resolve the housing crisis in the congested Maldivian capital by allocating plots of land from Greater…
Ooredoo Maldives announces on Wednesday, 15th June, of launching its SuperNet fixed broadband services in Alif Dhaal atoll Dhigurah. While confirming its service expansion, Ooredoo in a statement confirmed that the SuperNet comes with a wide range of broadband packages with speeds up to 100Mb/s. “Our fixed broadband, SuperNet plans are offering the best plans clubbed with massive data allowances, higher speeds and data rollover service,” said the Chief Commercial Officer of Ooredoo Maldives, Mr. Hussain Niyaz. “With great speeds and quality network coverage, we are delighted to connect the people of Dhigurah to more opportunities,” Mr. Niyaz added. Mr.…
The government of Japan has provided a grant aid of JPY117,000,000 (MVR13,389,210) towards implementation of the human resource development scholarship project. The exchange of note for the project was signed by the Japanese Ambassador to the Maldives Mrs. Takeuchi Midori on behalf of the Japanese government and Mr. Ahmed Khaleel, the Minister of State for Foreign Affairs during a ceremony held at the premises of the Ministry of Foreign Affairs. Maldives government confirms that this assistance is in line with the exchange of notes signed between the two governments earlier in August 2020, which offered fully funded scholarships for Maldivian…
Fairmont Maldives Sirru Fen Fushi has appointed its new General Manager, Mr. Marshall Orton. Mr. Orton is a decorated hospitality industry veteran with a career span of 35 years and spent a majority of his tenures across Asia, Europe and the USA with an impressive portfolio holding names such as Accor. Some of his most notable tenures include La Veranda Resort Phu Quoc, Pullman Yangon Centerpoint and Sofitel Bangkok as their General Manager, Director of Operations and Executive Assistant respectively. Apart from being deft in managerial aspects, Mr. Orton is a skilled chef with a pantheon of culinary roles filled…
The Minister of Fisheries, Marine Resources and Agriculture Dr. Hussain Rasheed Hassan recently told Maldives Parliament that the fishing facility in Thaa atoll Funaddu will be operational sometime in 2023. The fisheries facility in Funaddu is operated by Maldives Industrial Fisheries Company (MIFCO). The minister’s response was directed to Thimarafushi MP Abdulla Riyaz who submitted request for a written response from the minister. In his written response, the minister attested that the facility will become operational following eight months of refurbishments works. “The loan is expected to be arranged and fish collection in Funaddu expected to commence in May 2023,”…
Bank of Maldives (BML) will reportedly introduce transit exclusive cards in association with international financial services corporation MasterCard. The transit cards will be utilized in the Raajje Transport Link (RTL) services launched by Maldives Transport and Contracting Company (MTCC) for which the national bank had signed with the contracting company. Moreover the new payment system will be integrated into all other payment networks either managed or accepted by BML. Under the Maldives Transit Project, BML will reportedly introduce an open-loop technology allowing customers to make use of a single transit card with cash top-up features without the requirement of additional…
Maldives Transport and Contracting Company (MTCC) has officially commenced services of Raajje Transport Link (RTL) in Haa Dhaal atoll on Sunday, 12th June. The RTL services falls under MTCC’s nationwide Integrated National Public Ferry Network (INPFN) project which will see the island nation’s residential atolls linked via high-speed ferries. Under the first phase of the project MTCC will reportedly launch services in the three northernmost atolls; Haa Alif, Haa Dhaal and Shaviyani out of which the transport and contracting company launched services in Haa Dhaal atoll first. The RTL ferry service will operate between 13 residential islands of Haa Dhaal…
State Electric Company Limited (STELCO) has reportedly concluded the installation of solar power panels at Alif Alif atoll Bodufulhadhoo powerhouse. In addition to this, the utility provider recently confirmed completing the installation of electricity cables in the picnic island of Kudagiri in Male’ atoll. STELCO installed a total of 3,000 meters of electrical cables under the project. The solar power panel installation in Bodufulhadhoo powerhouse falls under the state administration’s pledge on reducing fuel-dependency for electricity production and the subsequent promotion of renewable energy resources in the Maldives. STELCO has recently affirmed its commitment towards increasing renewable energy options across…
State Electric Company Limited (STELCO) has commenced installation of electricity on the housing towers developed by the utility company in Hulhumale’ Phase II. The decision for STELCO stepping up on electricity installation instead of Housing Development Corporation (HDC) was confirmed on 05th June. STELCO moved ahead with the decision due to the delay on HDC’s part. Following the utility company board’s decision, STELCO is currently installing a transformer network in the housing towers to power the structures. Moreover, STELCO had decided to expedite electricity installation to ensure their housing structures were hospitable by the coming July where the utility provider…