MVR 573 million spent on PSIP projects thus far in 2020
20 ފެބުރުއަރީ 2020 | ބުރާސްފަތި 09:37MVR 442.7 million spent during the past week alone
Housing units
The Ministry of Finance has revealed that the government has spent MVR 573.2 million in Public Sector Investment Projects (PSIP) up until the past week.
According to statistics publicized by the ministry, the total spent for PSIPs up until the first week of February totals MVR 130.5 million. Statistics go on to reveal that MVR 442.7 million was spent for PSIPs during the past week alone.
The most expenditure for PSIPs was recorded for land acquisition at MVR 428.5 million, revealed the ministry.
The second most spent for PSIPs have been recorded at MVR 40.9 million, for health and social protection projects, followed by road development projects for which a total of MVR 32.2 million has been spent thus far.
Statistics further reveal that a total of MVR 13.3 million has been spent for projects in the education sector, MVR 29.3 million for initiatives under the transport system as well as MVR 11.7 million for housing schemes.
The proposed state budget of MVR 37.5 billion had the biggest PSIP seen in the country’s history, set at MVR 10.1 million, MVR five million more than the past year. MVR 10.45 billion was passed under the state budget for PSIPs.
Earlier, Minister of Finance, Ibrahim Ameer, asserted that there will be no discrimination in providing PSIPs for every island of the Maldives.
