State releases funds to PPM after months of delay

Ministry of Finance has released the MVR 8.6 million out of the MVR 18 million due to the former ruling party, Progressive Party of Maldives (PPM) which was kept on hold over legal issues.

Minister of Finance, Ibrahim Ameer confirmed to ‘Sun’ that the funds were released last week.

However, PPM reports that it has yet to receive any official documentation informing them of the release of funds, and that the party was therefore unable confirm whether it has received the funds.

The party said that it received a letter Ministry of Finance on May 2, informing the party that the ministry had instructed central bank, Maldives Monetary Authority (MMA) to release the funds.

Political Parties Act requires the State to deliver the funds due to political parties within the first quarter of the year.

Funds to PPM were kept on hold during the legal dispute over the legitimacy of Leader of PPM, former Maldivian President Abdulla Yameen Abdul Gayoom’s claim over PPM over that of his brother and former Leader of PPM, former President Maumoon Abdul Gayoom.

The lengthy legal dispute had ended in Yameen’s favor on January 30, and Elections Commission had requested Ministry of Finance to authorize the release of funds to the party.

The long overdue release of funds to PPM comes after the party filed a civil lawsuit against the State over the failure to release the funds. The first meeting in the dispute resolution process was held at Civil Court on April 22.