Committee passes 2025 budget; requires projects submission
The approved budget, with these added conditions, will now move forward for debate and ratification by parliament.
The budget committee of parliament on Wednesday approved the government’s proposed budget for 2025, incorporating additional conditions aimed at increasing transparency and oversight.
During the meeting, Dhigurah MP Ahmed Nazim presented amendments to the budget, which were supported by Baarah MP Ibrahim Shujau. The committee passed the budget with 15 out of 19 members voting in favour.
Among the key amendments proposed by Nazim were measures to enhance the evaluation and monitoring of Public Sector Investment Program (PSIP) projects. These include:
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Submitting to parliament by February a list of PSIP projects scheduled to commence practical work, along with their distribution.
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Providing details of signed projects to parliament by March.
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Submitting quarterly status reports on ongoing projects to parliament.
Nazim also proposed additional measures aimed at improving fiscal accountability:
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Submitting a quarterly report to parliament outlining steps and timelines to reduce government-owned companies' reliance on the national budget.
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Strengthening tax compliance by reviewing Maldives Inland Revenue Authority (MIRA) measures against tax evasion.
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Expediting amendments to the taxation law.
The approved budget, with these added conditions, will now move forward for debate and ratification by parliament.
