Parliament remains in a state of uncertainty, and it is unclear whether state even has funds to import essential food supplies for people tomorrow: Shamheed
MP Shamheed has expressed concern over the lack of transparency regarding state financial records, stating that the Parliament remains uninformed about the country's true economic standing. He highlighted that while the debt of both the government and state-owned enterprises continues to rise, funds are being diverted toward wasteful expenditures rather than debt management. Consequently, Shamheed urged the government to clarify the nation's actual financial situation to the public and prioritize resolving these fiscal challenges.
Dr. Ahmed Shamheed, Member of Parliament for the Hulhumalé South constituency, speaking during RaajjeTV’s "Fala Surukhee" program. | RaajjeMV
Dr. Ahmed Shamheed, the Member of Parliament for the South Hulhumale' constituency, has stated that President Dr. Mohamed Muizzu’s administration has kept the Parliament in the dark by failing to share essential information. He expressed concern that it remains unclear whether the state even possesses the necessary funds to import essential food commodities for the public tomorrow.
Speaking on RaajjeTV’s "Fala Surukhee" program, MP Shamheed stated that the current administration's governance is causing significant strain on the nation, highlighting numerous issues of concern. However, he noted that no information is being shared with the People’s Majlis, adding that the Parliament itself has been left in the dark regarding the government's actions.
Highlighting that certain financial records required for public disclosure have remained hidden for over a year and a half, MP Shamheed stated that the Parliament is currently unaware of whether the state possesses the necessary funds to purchase essential food supplies for the public tomorrow.
However, MP Shamheed stated that such vital information must be disclosed, describing the matter as a significant concern.
Furthermore, MP Shamheed stated that it was not only the government's debt that increased over the past two years, but that the state's largest corporations had also accumulated significant debt.
The reality is evident when examining the latest audit report of the state’s largest company, MACL. That company alone incurred a debt of 1.5 billion Rufiyaa within a single year, of which 860 million Rufiyaa is short-term debt. Therefore, it is not just the direct state loans that are pending; the state-owned enterprises have also been pushed into this dire condition. The public must understand the reality: following the changes brought to the tax system and the implementation of the new foreign exchange regulations under this administration, the state has secured the necessary US dollars to meet its debt obligations for this year. As noted in the President's most recent Presidential Address, an additional 900 million dollars was received last year. Had even a portion of that surplus 900 million dollars been allocated for this purpose, these loans could have been settled.Dr. Ahmed Shamheed, Member of Parliament for the South Hulhumale' constituency.
Shamheed noted that the current administration is spending state funds without any established principles or regulations. He further stated that these expenditures are being carried out in a manner that offers no benefit or advantage to the Maldivian people or the nation, unlike anything seen in recent times.
These massive expenditures were incurred for the reclamation of the so-called Fushi Dhiggaru. Whether one chooses to believe it or not, four of the world's largest dredgers were brought in, and vast amounts of dollars were spent on purchasing drones and the "Maldives 2.0" software. This is not the crisis currently facing the Maldivian people that they are attempting to solve. There is nothing a drone can fix regarding the issues this nation is facing today. This country is grappling with a debt crisis. When this government took office, the most significant challenge was the national debt. The public provided dollars to the Ministry of Finance to resolve that debt. It is not as if this was done because those dollars were unavailable. Therefore, taxpayers provided this money for the sake of the Maldivian people. However, to this day, no one knows exactly what happened to those funds; certainly, only a small fraction was ever used to service the loans.Dr. Ahmed Shamheed, Member of Parliament for the South Hulhumale' constituency.
MP Shamheed stated that the government must acknowledge the existing challenges in managing the nation's debt and expenditure. He emphasized that a lasting solution can only be achieved by prioritizing the interests of the people and the nation, and by working to address the root causes of these issues. Furthermore, he stressed that the government must transparently communicate the country's true economic situation to the public.
