MNACI to Discuss Fund Disbursement Delays with Government

The Maldives National Association of Construction Industry (MNACI) has announced plans to hold discussions with the government due to delays in fund disbursements under the Public Sector Investment Program (PSIP).

In a statement released yeterday, MNACI highlighted significant delays in disbursements for various developmental projects allocated to local atolls. The association noted that the outstanding funds include payments owed to contractors since the previous government and unpaid invoices raised on multiple occasions.

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https://x.com/MNACI_Maldives/status/1808184670187933916

To address these issues, MNACI has formed a temporary committee to engage with the government and seek solutions. The committee includes MACI Chairperson Ibrahim Muththalib, Vice Chairperson and Treasurer Hasan Habeeb, steering committee members Amjad Musthafa and Mohamed Jalaal Waheed, and Secretary General Adnan Haleem. The committee is set to begin its work on Wednesday, according to the MACI secretariat.

MNACI President Mohamed Ali Janah, who also serves as the Principal Advisor of Trade and Investments to Maldives President Dr. Mohamed Muizzu, expressed concern over the delays.

The government, which is implementing austerity measures to reduce state expenditure, has also cut spending on developmental projects. According to statistics released by the Ministry of Finance on June 25, the state has already spent MVR 3.28 billion under the PSIP this year, compared to MVR 5.64 billion during the same period last year.

The outcome of the discussions between MNACI and the government remains to be seen, as both parties work towards resolving the funding delays affecting crucial infrastructure projects across the Maldives.