Zameer: Ministers working 24/7 with firms, within legal bounds

Finance Minister Moosa Zameer on Tuesday defended the government’s close collaboration with private companies and state-owned enterprises (SOEs), stating that ministers are working “24 hours a day” to implement development goals while strictly adhering to legal and regulatory frameworks.

Speaking during parliamentary debate on the 2026 budget, Zameer said all ministerial actions are guided by the Attorney General and Auditor General, and that the administration will not violate any laws or regulations.

“Ministers are working around the clock with companies, private and state-owned, to achieve the President’s targets, including through contractor financing,” Zameer said. “We will not do anything against the law or regulations. That has always been the President’s directive.”

Zameer acknowledged that while many Maldivian companies pay taxes regularly, some investments remain untaxed. He said the Finance Ministry is working with MIRA to strengthen tax collection and will also support Customs and other revenue-generating agencies.

He also defended the lack of detailed project listings in the budget, arguing that past delays were caused by unrealistic deadlines set by various parties. “The current proposal will benefit the country,” he said.

On November 6, the government awarded 206 projects to 53 private companies under the contractor finance model. The opposition MDP has challenged the move, filing a case on November 9 to halt funding. The party alleges that state finance rules were amended four times to enable project awards without public announcements or tendering.

In a letter to the Prosecutor General sent Tuesday, MDP claimed the amendments allow Cabinet-determined projects to be awarded via single-source procurement, bypassing competitive processes. The party warned that such changes could undermine public trust in the financial system and disrupt procurement norms.

Since taking office, the government has reportedly awarded multiple projects to SOEs without competitive bidding, prompting concern among private sector stakeholders.