President Dr. Mohamed Muizzu has stated that the government has awarded various development projects to companies in strict adherence to laws and regulations. Responding to a question from a Galolhu resident regarding compliance with the Public Finance Regulations, the President affirmed that advance payments would not be disbursed without a guarantee when awarding projects, and progress payments would only be made upon the completion of work stages.
Consequently, the President assured that no project would be awarded to any party in violation of laws and regulations. On November 6th of last year, 206 development projects, valued at MVR 2.7 billion, across nine sectors were awarded to local Maldivian companies. These projects are being implemented in 123 islands and encompass housing, education, healthcare, waste management, sports, police infrastructure, mosques, and other community facilities. The Bank of Maldives (BML) has also affirmed that it will not engage in any irregular practices when disbursing loans for these projects.
