President Waheed requests parliamentary approval for loans of over US$96 million
05 Dec 2012, 8:49 PM
Parliament has begun debate on the MVR 16.9 billion (US$1 billion) state budget for 2013 submitted by Finance Minister Abdulla Jihad last week.
At the beginning of Tuesday’s sitting, Speaker Abdulla Shahid read out a letter from President Dr Mohamed Waheed Hassan Manik requesting parliamentary approval for loans and government guarantees in the coming year.
Parliamentary approval for loans is required under amendments brought to the Public Finance Act in 2010.
Speaker Shahid announced that the President’s request was sent to parliament’s Finance Committee for consideration and review.
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