With election approaching, project expenses hike by MVR 2b
The government has said it aims to complete many projects before the presidential election on September 9.
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By
Ahmed Naif
As the government aims to complete development projects by the election year, it has been revealed that the expenditure on Public Sector Investment Programme (PSIP) has increased by MVR 2 billion this year compared to last year.
According to the latest figures released by the finance ministry, the government has spent MVR 5.2 billion on projects till June 15 compared to MVR 3.2 billion during the same period last year.
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MVR 2 billion or 60% increase
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The budget for PSIP this year is MVR 8.6 billion
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60% of the budgeted amount for PSIP has been spent
Large amount for Thilamale Bridge
According to the finance ministry, the Greater Male Connectivity Project linking Male, Villimale, Gulhifalhu and Thilafushi has been the largest expenditure on PSIP. The project has so far cost MVR 460 million.
The next biggest expenditures were:
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MVR 604.7 million for construction of airports
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MVR 584.7 million for construction of harbours
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MVR650.9 million for road construction
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MVR 565.9 million for land reclamation
In addition, MVR 768.1 million has been spent on sewerage and water projects so far this year.
The government has said it aims to complete many projects before the presidential election on September 9. The budget also predicts that this year will result in heavy expenses as it marks the last year of the government's term.
