Revenue raising measures remain biggest obstacle to budget, says Finance Minister
16 Dec 2013, 8:08 PM
Daniel Bosley
Finance Minister Abdulla Jihad has said that new revenue raising measures remain the biggest obstacle to the passing of the new budget.
He has, however, expressed his opinion that the collection of lease extension payments up-front – anticipated by the government to raise MVR1.2billion (US$77million)- would not be a problem.
“I don’t think it is a problem because we are giving them for 99 years – that’s quite a long time,” Jihad told Minivan News today. “The property belongs to everyone – it’s the people’s property.”
Maldives Association for Tourism Industry Secretary General Ahmed Nazeer reportedly told the Budget Review Committee yesterday that he anticipated that 50 percent of resort owners would refuse to pay the sum up front.
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