Friday
22nd Nov 2024
Dhivehi Edition
Finance Minister Ibrahim Ameer. Photo: TMJ
Ministry of Finance urged the parliament to amend the articles to hasten the implementation of the levy imposed on plastic bags under the ratified law.
Addressing The Peoples Majlis’ committee for Environment and Climate Change assessing the waste management bill, the Ministry of Finance’s Chief Financial Budget Executive Ahmed Saruwash appealed to abridge the duration of the provided by the Act to compile regulations to levy the charges on plastic bags.
The approved amendment to the bill specifies that it will become activated upon completion one month after approval. Additionally, the bill granted a period of 6 months to compile the regulations.
Saruwash advised the committee to draft levy regulations by the bill effective date, which is one month from the approval date. He urged the committee to hasten to charge MVR 2 for plastic bags. He explained that the purpose of the levy is to phase-out the use of plastic bags and levy is the “most effective mechanism” to achieve the goal.
Furthermore, Saruwash voiced Maldives Inland Revenue Authority (MIRA)’s claim that the regulations referred to in the Act can be drafted within one month and therefore he proposes to amend the duration of 6 months given, and change that duration to 30 days instead.
If MVR 2 is not levied in accordance with the amendment, the responsible party will be liable to a penalty fee of MVR 5000 - MVR 50,000.