The Finance Ministry has announced that it will be procuring more COVID-19 vaccines from Serum Institute of India Limited and Institute of Life Sciences Private Limited.
In a declaration signed and issued by Finance Minister Ibrahim Ameer, the government confirmed that the Maldives will be signing agreements with the two Indian companies to procure COVID-19 vaccines after suspending certain provisions of the Public Finance Act.
Four provisions of the Public Finance Act will be temporarily suspended under the Public Finance Act. The suspended provisions are those on tender process, awarding of contract, advance payment of 15%, and compensation in case of delays. The suspensions will be applicable only on the agreement which will be signed with the two companies for the procurement of the vaccine and for the duration of the agreement. The Finance Ministry will be conducting an internal audit on the government’s spending as part of the agreement.
Government similarly struck a deal with Singapore’s AstraZeneca Company to procure 700,000 doses, last December.