Finance Ministry Releases Circular Calling to Limit Expenditure

The Ministry of Finance on Sunday sent a circular signed by Minister Ibrahim Ameer to the government offices, calling to limit expenditure.

As per the circular, issues such as the Russia-Ukraine conflict have caused spikes in the prices of fuel and other commodities, thereby increasing government expenditure. It noted that this will be felt by the Maldives as well, and that swift action needs to be taken to mitigate the impact.

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The circular listed ways to reduce expenditure, including the following:

  • Only necessary services to run office to be provided for now
  • New scholarships are not to be given
  • No conducting any kind of training apart from short-term ones from received from abroad
  • Maintenance work only to prevent halting of a necessary function in an ongoing project
  • Apart from capital expenses under PSIP, only necessary expenses are allowed; for any expense beyond MVR 5,000, Finance Ministry’s approval must be sought
  • No promotions to be given without the Ministry’s approval
  • Only to work overtime when necessary

All government offices are now mandated to follow this circular, in effect from 20th June onwards.

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