Three political parties fined for failing to submit financial statements within statutory deadline
The Elections Commission has fined the Maldivian Democratic Party (MDP), Adhaalath Party, and the Maldives National Party (MNP) MVR 50,000 each for failing to submit their annual financial statements within the legally mandated timeframe. Financial records for the past year reveal that the People’s National Congress (PNC) and MDP generated the highest revenue, the majority of which consisted of state funding, while the primary expenditures for these parties were allocated toward salaries and office rent.
Elections Commission (EC). | Social Media
The Elections Commission (EC) has fined three active political parties in the Maldives for failing to submit their financial statements within the legally mandated timeframe.
The Elections Commission has fined the Maldivian Democratic Party (MDP), Adhaalath Party (AP), and the Maldives National Party (MNP). While Adhaalath Party and MNP failed to submit their financial statements entirely, MDP submitted its report after the statutory deadline. According to the Commission, each party has been fined MVR 50,000.
The deadline set by the Elections Commission for political parties to submit their annual financial statements for the past year expired on May 20. Only four political parties met the deadline to submit their financial reports. These parties are the Jumhooree Party (JP), Maldives Development Alliance (MDA), People’s National Congress (PNC), and the People’s National Front (PNF).
According to statistics released by the Elections Commission (EC), the country’s two largest political parties, the Maldivian Democratic Party (MDP) and the People’s National Congress (PNC), recorded the highest expenditures last year. The MDP generated a total revenue of MVR 9.5 million last year, of which MVR 8.4 million was provided by the EC. Additionally, the party received MVR 1 million in donations from private individuals and MVR 57,095 from corporate entities.
The Maldivian Democratic Party (MDP) spent MVR 8.3 million last year, with the highest expenditure allocated to salaries and benefits. Specifically, the party spent MVR 3.1 million on staff wages and MVR 1.5 million on rent.
The ruling People's National Congress (PNC) recorded a total income of MVR 14.1 million last year. The majority of this revenue, amounting to MVR 13.3 million, was provided by the Elections Commission, while MVR 842,000 was received as donations from private sources. In terms of expenditure, the PNC spent MVR 9.1 million over the course of the year. The party's largest expense was rent, which totaled MVR 3.1 million. Additionally, MVR 2.3 million was spent on staff salaries, while administrative costs amounted to MVR 8.8 million. The party also allocated MVR 376,062 for promotional and advertising activities.
According to the Political Parties Act, all political parties are required to submit their annual financial statements to the Elections Commission within a designated timeframe.
