Opposition's emergency motion reg. overdraft extension fails parliament

An emergency motion submitted in connection to the recently-approved overdraft extension has failed at the People’s Majlis.

Parliamentarians of the opposition coalition submitted the emergency motion in regards to the overdraft extension request being approved earlier this week, during Tuesday’s sitting.

29 out of the 35 lawmakers who took part in the vote to approve the motion voted against whereas five MPs voted in favor. One MP who took part in Tuesday’s Majlis sitting abstained from the vote.

Submitting the motion to the parliament floor, MP for Faresmaathodhaa constituency, Hussain Mohamed Latheef stressed that the Maldives is yet to bounce back from the economic downfall caused by the Covid-19 pandemic and that the country is still in the face of massive challenges both financially and economically.

With this being said, MP Latheef accused the government of issuing funds to high-ranking officials as well as close allies of the administration during such times of crises.

The one-year extension requested by the Ministry of Finance to the period through which the state may continue to unlimitedly obtain funds from the Maldives Monetary Authority (MMA) was approved by the parliament on Sunday.

53 members participated in the vote of which 47 members unanimously voted in favor. Four members voted against.

The finance ministry requested an extension period for an overdraw taken from MMA on 26 April 2020, totaling MVR 4.4 billion. Requesting the extension during the past week, finance minister Ibrahim Ameer revealed that while the one-year period initially granted by Majlis was almost over, Maldives remains in the face of financial and economic burdens due to the pandemic.

Parliament granted the overdraft extension to not exceed the MVR 4.4 billion recorded at present.