News Desk
President Dr Mohammed Muizzu has said the government has released MVR 3.3 billion over the past six months to settle outstanding payments owed to local companies, as part of efforts to ease pressure on businesses affected by delayed disbursements.
Speaking at a press conference at the President’s Office today, he said the government is giving high priority to both external and domestic debt obligations. He noted that major repayments had been made this month, including USD 500 million and USD 400 million in external liabilities.
He said the administration is also working to clear overdue payments owed to Maldivian companies. According to the President, MVR 3.3 billion has been disbursed since 1 November last year, with most payments going to pharmaceutical suppliers and pharmacies. An additional MVR 260 million is scheduled for release this week.
“We are working to settle the debts left behind while also ensuring that people receive the payments they are owed,” he said.
During meetings with the President, small business owners have repeatedly raised concerns about long delays in receiving payments for goods and services provided to the state. Many say the delays have caused financial strain and operational losses.
Businesses say the uncertainty surrounding payment timelines has become one of their biggest challenges, with some reporting that they have waited months without receiving funds owed by the state.
