During a meeting with small and medium-sized enterprises (SMEs), President Dr. Mohamed Muizzu provided assurance that the demurrage-free period for goods imported into the Maldives would be extended from 80 hours to 124 hours. Furthermore, he committed to streamlining cargo clearance processes to 24 hours. The business community had raised concerns regarding difficulties encountered in cargo clearance at the airport and the escalation of demurrage fees. Additionally, the President committed to addressing various other challenges, including issues related to foreign worker quotas, the obligation to pay taxes on outstanding bills, and obstacles faced by businesses during vehicle registration.
He also announced the establishment of a mechanism to allow for the offset of outstanding payments owed to the state against amounts payable by the state to businesses. Moreover, he confirmed that a Bank of Maldives (BML) ATM would be installed in Thilafushi in the upcoming month. The President articulated that the government’s objective is to rectify existing deficiencies and further solidify areas that are already performing effectively.
