Thursday
19th Sep 2024
Dhivehi Edition
Public accounts committee
Public Accounts Committee Launches Initiative to Recover RF 15.4 Billion Owed to the State
Photo: Majilis
The Public Accounts Committee of the Maldivian Parliament has initiated a concerted effort to recover RF 15.4 billion that remains unpaid to the state as of May this year. This was announced by Ahmed Nazim, the Vice-President of the Parliament and a member of the Public Accounts Committee, in a post on X.
Nazim emphasized the critical importance of retrieving these funds, stating, "It is essential to recover the money that the state has not received, and we will find a solution by diving into the depths of the issue." To facilitate this, the Public Accounts Committee will summon Hassan Zareer, the Commissioner General of Taxation, to a meeting on Tuesday to inquire about the outstanding amount.
According to available statistics, tax revenue has been reported at RF 7.7 billion, while non-tax revenue stands at RF 7.6 billion, underscoring the significant portion of state revenue that remains uncollected.
President Mohamed Muizzu has expressed confidence in the government's ability to recover these funds, stating, "If the state has to go to court to recover the money it has not received, it will do so." However, he also indicated optimism that half of the outstanding amount could be recovered without resorting to legal action.
President Muizzu further reiterated the government's commitment to securing the money due to the state through various means to ensure the country's economic sovereignty and reduce national debt. This initiative is part of broader efforts to bolster the Maldives' financial stability and ensure sustainable economic growth.
The Public Accounts Committee's proactive stance on this issue reflects the government's dedication to addressing financial shortfalls and optimizing revenue collection, crucial steps toward achieving long-term economic independence.