Minister deflects bunkering income inquiry to STO
In November 2024, Saeed had stated that the bunkering service had generated an income of USD 1.5 billion by then
Minister Saeed speaking at the inauguration ceremony for bunkering services
When asked about the income generated so far from the bunkering service initiated by the government, Minister of Economic Development and Trade Mohamed Saeed asked to obtain the information from the State Trading Organization (STO).
Minister Saeed earlier claimed that the bunkering service would generate an annual income of USD 400 million. He had also claimed that the benefits of the project, which is being carried out with an investment of USD 20 million, would be realized within a year.
When inquired about it, Minister Saeed said that the government has not discontinued the bunkering service and that STO continues to provide the bunkering service.
At the press conference, the minister said that his statements about the income from the bunkering service are being "twisted". Although the minister said this, he had previously stated that the bunkering service would transform the Maldivian economy and that it would generate USD 400 million within one year.
Saeed said that STO has been entrusted with carrying out the bunkering service, and the income generated from bunkering would be documented in the company's records. The minister also said that because the bunkering service has been initiated in the Maldives, every figure recorded by STO may not be shared with the media daily.
Without sharing any details of the income generated so far from the bunkering service, the minister said that although he said he doesn't know the details, that is not the truth. He also said that it is yielding promising results and that the work is progressing towards the targeted goals.
The government launched the bunkering service in Ihavandhippolhu in September 2024. However, many people have been saying that the government is not receiving the expected income from the service and that the bunkering service is not currently operational.
At Monday’s presser, Saeed refused to share the amount of income generated so far from the bunkering service. Instead, the minister discussed other matters related to bunkering. Without mentioning a figure, the minister said that the benefits from it are good.
Previously, in November 2024, Saeed had stated that the bunkering service had generated an income of USD 1.5 billion by then.
