The Ministry of Finance has disclosed that development projects valued at MVR 2.5 billion have been awarded within the initial six months of the current government’s tenure. This announcement was made by Finance Minister, Dr. Mohamed Shafeeq, during a press briefing where he highlighted the ministry’s accomplishments.
Emphasizing the government’s commitment to prioritizing development initiatives, Minister Shafeeq stated that MVR 2.5 billion worth of projects have been allocated within the first half of the fiscal year. Notably, 20% of this allocation has been earmarked for the healthcare sector.
In addition to project allocations, Minister Shafeeq outlined the government’s focus on pay harmonization across various institutions. As part of this initiative, pay structures for two institutions have already been aligned, representing a 46% harmonization rate.
Furthermore, Minister Shafeeq underscored the importance of fostering international collaborations, particularly with global financial institutions. The Ministry of Finance is actively engaging with entities such as the IMF, World Bank, and ADB to strengthen ties and leverage expertise, he said.
Regarding state-owned enterprises, Minister Shafeeq highlighted ongoing efforts to reform these entities, aiming to streamline operations and reduce costs. He stated these reforms are being pursued in consultation with relevant agencies to ensure effective implementation.
