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Parliament tells govt. to re-submit supplementary budget

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The Parliament has instructed the Finance Ministry to resubmit the MVR 6.5 billion supplementary budget it submitted last week, along with the details required under the Public Finance Act.

The MVR 6.5 billion supplementary budget was submitted to the Parliament last Wednesday. It was scheduled in the agenda for Tuesday’s sitting. But the Parliament was unable to hold the sitting due to lack of quorum.

It wasn’t set in the agenda for Wednesday’s sitting – something which the ruling MDP expressed concern over.

Parliament’s communications director Hassan Ziyau told Sun on Tuesday that the supplementary budget was submitted without the details required under the Public Finance Act. He said the Parliament had asked the Finance Ministry to submit the details.

He said that the Finance Ministry still failed to submit all necessary details when it submitted information the second time.

In a letter signed by Speaker Mohamed Nasheed on Tuesday, the Parliament instructed the Finance Ministry to resubmit the supplementary budget with all the necessary details.

“The speaker told the Finance Ministry today to resubmit the budget with the details required under Public Finance Act,” said Ziyau.

The Parliament’s majority leader Mohamed Aslam had expressed concern the budget wasn’t included in the agenda for Wednesday. He accused the Democrats of “doing whatever they want” because they chair the Parliament.

The supplementary budget submitted by the Parliament includes MVR 3.1 billion for recurrent expenditure and MVR 3.3 billion for capital expenditure.

The allotment for recurrent expenditure includes MVR 1.8 billion for subsidies, MVR 1.2 billion for Aasandha – which will increase the budget allocated for Aasandha this year to MVR 2.3 billion.

Meanwhile, the allotment for capital expenditure includes MVR 1.7 billion for PSIP projects.

With the MVR 6.5 billion supplementary budget, the state budget for 2023 will rise to MVR 49.3 billion.

Source(s): sun.mv

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India denies claims by Maldivian government on unpermitted operation

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India has denied the claims made by Maldivian Defense Minister Ghassan Maumoon last week, alleging Indian military pilots had carried out an operation in the Maldives without the necessary permits.

The High Commission of India in the Maldives released a statement on Tuesday, stating that Indian aviation platforms in the Maldives have always operated as per the agreed procedures and with due authorization.

On the contrary, while speaking at a press conference on Saturday, Minister Ghassan said he had knowledge of one of the aviation platforms undertaking an unpermitted trip. He went onto detail an incident where one of the Indian-operated helicopters landed in Th. Thimaraushi, allegedly without permission – a case which he said was reviewed by the Parliament’s Committee on National Security Services (241 Committee), when he had been a lawmaker.

Referencing the remarks by the Minister, the High Commission said the particular incident which saw an emergency landing at Thimarafushi on October 9th, 2019, was “necessitated due to an unforeseen exigency”.

They added that the landing was carried out after taking necessary on-ground approvals from Air Traffic Control (ATC) to ensure the safety and security of the platform and crew.

Source(s): sun.mv

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Maldives calls for strong measures to maintain tuna stocks at IOTC

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The Maldives has called for strong measures to sustain tuna stocks at the 28th session of the Indian Ocean Tuna Commission (IOTC).

A high-level delegation from the Ministry of Fisheries and Ocean Resources is attending the five-day session in Bangkok, Thailand. It will address various issues related to the sustainability of tuna stocks in the Indian Ocean.

The Maldives is advocating for member states to prioritise the sustainability of tuna stocks, focusing on the adoption of strong management measures for drifting Fish Aggregating Devices (FADs) and shark conservation. Additionally, the Maldives will push for the implementation of a management procedure for skipjack tuna.

During the session, the Maldives emphasised the need for science-based management plans to protect against threats to fisheries and to enhance the restoration and management of tuna stocks. The Maldives also aims for the IOTC to lead Regional Fisheries Management Organisations (RFMOs) in adopting science-based conservation and management measures, reflecting the nation’s dedication to the well-being of coastal communities and the health of tuna stocks.

The IOTC is an intergovernmental organisation responsible for managing tuna and tuna-like species in the Indian Ocean.

Source(s): PsmNews

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Maldives to seek UK’s assistance to develop finance sector

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Maldivian Economic Minister Mohamed Saeed, on Monday, traveled to the United Kingdom (UK) to attend the Commonwealth Trade and Investment Roundtable.

According to the Economic Ministry, the purpose of the Minister’s visit is to seek assistance from the participants of UK financial sector in order to develop a vibrant financial market in the Maldives, which the Ministry states is vital for the nation’s economic and social development.

The discussions held by the Minister in this regard will center on the development of Maldives International Financial Services Authority and Development Bank.

In this regard, the Economic Ministry said the visit will pave the way to establish formal working relationships with UK financial services firms on modernizing legal framework, financial sector infrastructure and the development of a modern and world-class governance strategy and operations for the establishment of international financial centres in the Maldives.

Minister Saeed, as part of these efforts, will meet UK government officials, members of the House of Lords and representatives from the UK financial and professional services industry in the course of the visit.

Source(s): sun.mv

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