President Dr. Mohamed Muizzu has stated that the Ministry of Finance will reveal the system in which funds are allocated and provided to the companies. The declaration was made by the president during the ceremony held to mark the Independence Day of the Maldives.
Speaking at the ceremony, President Dr. Muizzu emphasised the government's commitment to eliminating corruption and enhancing transparency. The president indicated that, although there is a policy regarding fund distribution to companies, public awareness of the process remains insufficient, pointing out that some parties exploit this lack of clarity to gain undue advantages. To address this, he affirmed that a transparent funding system would assist in mitigating these issues.
Furthermore, President Dr. Muizzu disclosed that the finance ministry has been assigned the responsibility of creating a transparent framework for fund allocation and payments. This system allows ministries and government entities to submit their bills to the finance ministry with the knowledge of contractors, thereby preventing corrupt practices.
Additionally, President Dr. Muizzu underscored the crucial importance of eliminating corruption in order to strengthen the economy and ensure effective governance. He reiterated that the current administration is committed to operating with full transparency.