Nasheed: Govt. needs to slow down speed of fulfillment of pledges in light of economic situation

Parliament speaker, former president Mohamed Nasheed said on Wednesday that the government needed to slow down the speed of fulfillment of pledges for the time being, in light of the current economic situation.

Planning Minister Mohamed Aslam was summoned to the Parliament on Wednesday morning to provide an update on government projects.

Commenting on government projects, Nasheed said that the government was fulfilling its pledges to the people.

However, it would be best if the government slow down the speed of fulfillment of pledges for the time being, he said.

“I have no doubt that honorable minister’s ministry and other government ministries are fulfilling pledges. But I want to say this. It would be the best for Maldives’ finances if the government slowed down the speed it is fulfilling pledges,” he said.

Nasheed said he made the comment in light of the current global economic situation, especially the rise in global fuel prices.

He also said that at a time when Maldives’ closes neighbor Sri Lanka has gone bankrupt, the country must take each and every decision with proper thought and consideration.

“One of our neighbors is in huge debt. This is the time for us to be prudent,” he said.

Nasheed said that though talk of slowing down projects wouldn’t be an easy topic for parliamentarians and ministers to broach, it was something the people needed to know.

The recent decision by the European Union to ban 90 percent of Russian oil imports by year-end has led to a spike in global fuel prices, with the price of a barrel of crude oil rising to USD 123 – the highest it has risen in two months.