MACI to hold talks with govt on PSIP delays

Maldives National Association Construction Industry (MACI) has decided to hold discussions with the government owing to delays in fund disbursements under the Public Sector Investment Program (PSIP).

MACI released a statement on Tuesday, the association highlighted significant delays in fund disbursements to various developmental projects allocated to local atolls.

The association said that the outstanding money includes payments owed to contractors since the previous government, and unpaid money to invoices raised on multiple occasions.

MACI created a temporary committee to meet and discuss with the government for 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.

Works of the temporary committee is expected to begin on Wednesday, MACI secretariat confirmed.

MACI's President Mohamed Ali Janah is the Principal Advisor of Trade and Investments to the Maldives President Dr. Mohamed Muizzu.

While the government is taking austerity measures to reduce state expenditure, it has cut spending towards developmental projects as well.

Ministry of Finance in its statistics publicized on June 25 highlighted the state has already spent MVR 3.28 billion under PSIP.

In the corresponding period last year, PSIP spending stood at MVR 5.64 billion.