President Muizzu makes pledges without any financial calculation; over 200 billion rufiyaa will be required just to fulfill the promises set for 2025, says MP Shamheed

Dr. Ahmed Shamheed, the Member of Parliament for the South Hulhumale' constituency, has stated that President Dr. Mohamed Muizzu makes pledges without proper financial calculations. He noted that fulfilling the promises made for 2025 alone would require an expenditure exceeding MVR 200 billion.

Speaking on RaajjeTV’s "TV Talk" program, MP Shamheed sharply criticized President Muizzu, specifically targeting the President's unfulfilled pledges. He asserted that the most recent Presidential Address lacked the essential qualities and substance expected of such a formal state declaration.

MP Shamheed stated that although President Muizzu pledged in the 2024 Presidential Address to develop resorts, distribute shares to the public, and provide dividends in US dollars, such a plan is unfeasible under the current framework. The MP further noted that the 2025 Presidential Address should have provided progress updates on the pledges made in the previous year's address; however, he pointed out that no such information was included.

MP Shamheed stated that more than 200 billion rufiyaa would be required just to fulfill the promises made in the 2025 Presidential Address. He further noted that neither President Muizzu nor his cabinet ministers conduct sufficient research or feasibility assessments to determine whether their proposed initiatives are actually achievable before undertaking them.

Furthermore, MP Shamheed stated that while the current administration is working to establish additional companies, existing state-owned enterprises are already operating at a loss and are failing to provide any benefit to the public or the nation.

I have done some preliminary calculations at home regarding the promises made in the 2025 Presidential Address. When totaling all the pledges for 2025, the figure reaches 200 billion Rufiyaa. To date, in all their statements and rallies, the government has failed to provide any specific figures or indications regarding how these projects will be funded, where the money will come from, or whether these plans are even feasible. As I mentioned at last night's rally, by the end of last year, the government had to provide 6.2 billion Rufiyaa in budget support to state-owned enterprises. This amounts to a transfer of 1,400 dollars per head of the Maldivian population. Currently, the public is seeing no benefit from the government's management of these companies. For instance, 250 million Rufiyaa was spent just to cover the losses of RDC (Road Development Corporation) over a mere three-month period.

Dr. Ahmed Shamheed, Member of Parliament for the South Hulhumale' constituency.

MP Shamheed stated that President Muizzu and the PNC are already focusing their efforts on the 2028 presidential election. He noted that the administration’s current presentation of a vision for 2030 is intended to serve this specific purpose. However, Shamheed emphasized that the public must reflect on past events, asserting that the people are now witnessing the resulting benefits and consequences for themselves.