The Maldives National Association of Construction Industry (MACI) has announced plans to engage in discussions with the government to address delays in fund disbursements under the Public Sector Investment Programme (PSIP). In a statement released on Tuesday, MACI highlighted significant delays affecting various developmental projects in local atolls.
The association pointed out that the outstanding payments include those owed to contractors since the previous government, as well as multiple unpaid invoices. In response, MACI has formed a temporary committee to seek solutions through dialogue with the government.
The committee comprises MACI Chairperson Ibrahim Muththalib, Vice Chairperson and Treasurer Hassan Habeeb, steering committee members Amjad Musthafa and Mohamed Jalaal Waheed, and Secretary General Adnan Haleem. The MACI secretariat has confirmed that the committee’s work is expected to commence on Wednesday.
MACI’s President, Mohamed Ali Janah, who also serves as the Principal Advisor of Trade and Investments to the Maldives President Dr. Mohamed Muizzu, has been vocal about the need for timely fund disbursements to ensure the continuity of developmental projects.
The government’s current austerity measures, aimed at reducing state expenditure, have led to cuts in spending on developmental projects. According to statistics released by the Ministry of Finance on 25th June, the state has already spent MVR 3.28 billion under PSIP this year, compared to MVR 5.64 billion in the corresponding period last year.
As MACI and the government prepare for discussions, the construction industry hopes for a resolution that will expedite fund disbursements and support the continuation of crucial developmental projects across the Maldives.
