Minister of Finance Ibrahim Ameer’s request for a one year extension to the period of suspension for some clauses of the Fiscal Responsibility Act which was granted last year, has been left undecided as it fails to move past the initial vote for further research.
A motion was submitted by Vliufushi constituency MP, Hassan Afeef to further research Finance Minister Ameer’s request by relevant parliament committees. However, 48 MPs voted against, while only 12 MPs voted for the motion.
Parliament Speaker Mohamed Speaker noted that nothing has been decided regarding the request by Finance Minister Ameer through the parliament. The motion did not progress to reach a decision, he added.
Last year, the Maldives extended the overdraw limit to MVR 4.4 billion at the perusal of Finance Minister Ibrahim Ameer, along with a one-year suspension for the repayment clause, which will end on 26 April 2021. The government has acquired more than MVR 2.8 billion as overdraft so far.