Govt revises timeline again for settling suppliers’ bills
Responding to the matter, the president said a regulatory approach would be considered.
The deadline for settling suppliers’ bills owed by government-owned companies has been revised again.
Delays in payments from state-owned enterprises remain a key concern for small and medium enterprises as well as larger businesses. President Mohamed Muizzu has previously announced several timelines for clearing outstanding bills in response to these complaints.
The issue was raised again during the president’s meeting with small and medium enterprises on Wednesday. Business owners told the president that delayed payments from government companies were affecting operations. Some also raised concerns about the requirement to pay taxes to the state despite not generating income.
Responding to the matter, the president said a regulatory approach would be considered. He said discussions would be held with the Maldives Inland Revenue Authority and the Ministry of Finance to assess options available under the law.
“We will sit down with IRA and Finance to see if there is anything legal to look into. We will try to find the best solution,” he said.
The president said he could not specify an amount but confirmed that payments would be made.
He said funds would be released to several businesses before the end of the month and that all outstanding bills would be settled by the month of Ramadan.
“For many, there are about two weeks left in the remaining days of this month. We are looking to pay the bills,” he said.
He added that the remaining balances would be cleared by Ramadan and that once payments are made, issues related to pending tax obligations would also be addressed.
The president has announced multiple timelines this year for clearing suppliers’ bills. On 2 October, he said payments would be made within five weeks. On 6 November, he said bills were being paid daily and that payments would continue until all outstanding amounts were settled. At a meeting with residents of Machchangolhi on 25 November, he said the bills would be paid by the end of the year.
