Waheed questions source of dollar funding for new dredger amid MTCC's financial struggle to complete existing projects
28 ސެޕްޓެމްބަރު 2026 | ހޯމަ 09:11Former Member of Parliament Abdulla Waheed has questioned the financing behind MTCC’s acquisition of a large dredger at a time when the company’s projects have stalled and the country faces a severe dollar shortage. Highlighting a growing public mistrust in government rhetoric, Waheed expressed skepticism regarding the company's capacity to undertake such a massive investment given its current financial standing.
Former Dhidhdhoo MP Abdulla Waheed (Wadde) speaking on RaajjeTV’s "Fala Surukhee" program. | Raajje MV
Former Member of Parliament for the Dhidhdhoo constituency, Abdulla Waheed, has questioned how the Maldives Transport and Contracting Company (MTCC) secured the foreign currency required to acquire a large new dredger at a time when the company reportedly lacks the funds to sustain its ongoing projects.
Speaking on RaajjeTV's "Fala SUrukhee" program, Waheed noted that while the country faces severe dollar shortages and businesses struggle to import essential goods, the government has announced the acquisition of a massive dredger through a state-owned enterprise without disclosing its total cost.
Noting that President Dr. Mohamed Muizzu's administration consistently brings forth astonishing claims, Waheed stated that new narratives are being introduced now that their previous assertions have failed to materialize. Waheed further remarked that since their past statements have proven untrue, the Maldivian people will not believe the claims being made today.
Waheed questioned the source of the foreign currency used by MTCC to acquire such a large-scale dredger.
The issue we are facing is that projects contracted to MTCC have failed to progress at the required pace, even after three years. The company is grappling with extreme financial constraints and significant difficulties in procuring the necessary materials. Given these circumstances, it is questionable how they could suddenly justify the acquisition of a new dredger.Abdulla Waheed (Wadde)
President Muizzu highlighted that the government is currently working to acquire an additional dredger to enhance MTCC’s land reclamation capacity, expressing hope that a vessel three times larger than the "Mahaa Jarraafu" will be brought in before the end of this year.
President Muizzu stated that a new dredger is being acquired, and its arrival will expedite pending land reclamation projects and significantly accelerate MTCC's ongoing reclamation efforts.
