President’s meeting with businesses designated for SMEs

The meeting scheduled for Wednesday night, during which President Dr. Mohamed Muizzu will hear concerns from businesses, has been designated specifically for small and medium enterprises.

Via a post on X on Sunday, the President’s Office’s chief spokesperson Heena Waleed said the President, as part of his ongoing series of meetings with the general public, will be holding a meeting with business owners on Wednesday night to hear their concerns.

However, in a later post on Tuesday, Heena said Wednesday’s meeting will be designated for small and medium enterprises.

The meeting will be held tomorrow at 8:30pm at Social Centre.

The business community has raised concerns over several government decisions this year. Among them is the awarding of development projects to state-owned companies instead of private firms, a move the government says is aimed at cost-cutting. Critics argue this has deprived private companies of opportunities and disrupted cash flow in the private sector.  

Last month, the government awarded 206 projects to private companies, but faced renewed criticism for bypassing competitive bidding and allegedly favoring firms linked to government officials.  

There have also been allegations that the government has withheld billions in pending payments to private businesses, including bills from the previous administration, leading to financial strain and bankruptcies.  

President Muizzu, who came to power promising to resolve the dollar shortage and eliminate the black market, has faced scrutiny as the dollar rate surged above MVR 20 this year. He recently stated that the rate is expected to fall to MVR 15.45 by the end of 2027.