Govt spends MVR 50m on dissolved MITDC, Agronet
The government has spent more than MVR 50 million from the state budget on the Maldives Integrated Tourism Development Corporation (MITDC) and Agronet Corporation.
The figures provided by the finance ministry at the request of Atoll Times show that since the government took office from November to June:
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MVR 9 million to MITDC
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MVR 40 million has been allocated as capital to Agronet
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That totals more than MVR 49 million
Meanwhile, the government has decided to dissolve both MITDC and Agronet:
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MITDC, which was established by President Abdulla Yameen's government to develop medium-sized tourism properties, has been dissolved and the works and projects entrusted to the company will be transferred to the Maldives Fund Management Corporation (MFMC)
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After the abolition of Agronet, which was established by the government of President Ibrahim Mohamed Solih to market and sell farmers' produce, its operations will be transferred to the Maldives Industrial Development Free Zone Company
It is estimated that more than MVR 50 million will have to be spent on the companies until the company is liquidated early next year.
MITDC has asked those who have paid for the tourism project it is developing in L. Baresdhoo to file a case in the Civil Court. About MVR 45 million has been paid for the project.
