The Budget Committee of Parliament has approved the proposed 2025 budget, incorporating amendments aimed at increasing transparency and fiscal accountability. The decision was made during a meeting on Wednesday, with 15 out of 19 committee members voting in favour of the amended budget.
Dhiggaru MP Ahmed Nazim (PNC) introduced several proposals focused on improving the evaluation and monitoring of Public Sector Investment Program (PSIP) projects. These amendments require the government to provide parliament with a comprehensive list of PSIP projects scheduled to begin practical work by February. Additionally, signed project details are to be submitted by March, with quarterly updates on the status of ongoing projects.
Further amendments include a requirement for the government to submit regular reports to parliament on steps taken to reduce the reliance of government-owned companies on the national budget. The proposals also emphasised the need for enhanced tax compliance, urging a review of measures by the Maldives Inland Revenue Authority to address tax evasion, alongside expedited amendments to the taxation law.
The approved budget, including these additional measures, is expected to promote greater transparency in the utilisation of public funds and improve oversight of government expenditures. It will now proceed for debate and ratification by the full parliament, reflecting a broader effort to ensure fiscal responsibility and accountability in managing national resources.
