Speaker cuts salary by 50% to back govt cuts
The Speaker made this decision public today, emphasizing that he would reduce 50% of his monthly salary from MVR 73,125 to MVR 36,562.
Speaker of the Parliament, Abdul Raheem Abdullah, on Wednesday announced that he will voluntarily reduce his salary by 50%.
This decision comes ahead of the presentation of next year’s budget, as a show of solidarity with President Mohamed Muizzu’s austerity measures.
The Speaker made this decision public, emphasising that he would reduce 50% of his monthly salary from MVR 73,125 to MVR 36,562.
Abdul Raheem’s decision is a direct response to President Muizzu’s commitment to economic reform and fiscal discipline.
President Muizzu on Wednesday declared a series of measures aimed at reducing government expenditure as part of a broader economic reform agenda. One of the most notable actions he announced was a 10% salary reduction for political office holders, aimed at easing the state's financial burden and improving the overall economic situation.
In his announcement, Speaker Abdul Raheem expressed his support for the President's initiative and highlighted the importance of demonstrating leadership during challenging economic times. He stated that his decision to take a 50% pay cut goes beyond the 10% reduction suggested by the President, serving as a clear message of commitment to the nation’s financial stability.
Measures announced by President Muizzu include:
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A 10% reduction in salaries of political positions.
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A 10% reduction in salaries for government-owned company employees, excluding banks.
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A salary cap of MVR 90,000 for company executives.
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A request for a 10% salary cut from judicial officials and members of Parliament.
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President Muizzu to reduce his own salary by 50%.
