Yameen: Next is PNF’s administration; those who sold state assets will face accountability

Former president Abdulla Yameen Abdul Gayyoom has stated that the People's National Front (PNF) will be elected Maldives’ next government, while pledging that his administration would investigate the sale of state assets and recover all proceeds from those found responsible.

Addressing a PNF town hall meeting, Yameen issued a strong warning that any individual involved in the sale of the country's key assets would face legal action, regardless of their position or influence. He said his administration would take all necessary measures to recover the funds, even if the assets were concealed in their “small intestines”.

"I am stating this well in advance: we will investigate those who sell off our assets. They will not be able to remain at ease," Yameen cautioned.

The former president further warned that if strategic infrastructure, including the country's commercial port, were sold to foreign entities, any claims for compensation would have to be directed at those responsible for the sale rather than the state.

"If a port or other key infrastructure is sold, I will not provide any compensation. Those sites are located within the Maldives and will remain under the sovereign jurisdiction of the Maldivian government," he stated.

Yameen also criticized the Maldivian Democratic Party (MDP), referring to agreement executed under the administration of former president Mohamed Nasheed that transferred the operation of Velana International Airport to India's GMR, as well as the maritime boundary issue that arose during the administration of former president Ibrahim Mohamed Solih. He described the disposal of national assets as a continuing pattern under MDP governments.

Additionally, Yameen alleged that the current administration, led by President Dr. Mohamed Muizzu, has made several attempts to sell the country's main commercial port.

Referring to the country's principal international airport and commercial port as the nation's "gold mines," Yameen said these strategic assets are among the Maldives' most valuable sources of revenue and should never be pledged as security for debt.

"I do not believe we should part with such significant capital assets; we cannot simply rebuild them. Once these assets are lost, there is no way to regain them," he added.

The agreement signed with GMR during the Nasheed administration was later terminated under the administration of former resident Dr. Mohamed Waheed Hassan Manik after the government declared the contract void ab initio. Although GMR initially sought USD 803 million in compensation, an international arbitration tribunal ultimately awarded the company USD 271 million.

The compensation was paid in full during Yameen's administration on November 16, 2016. At the time of the agreement, the airport, now known as Velana International Airport, operated under the name Ibrahim Nasir International Airport and had been leased to GMR on June 28, 2010.