Will terminate GMR contract as per notice: Government

A press conference by the government in relation to the GMR issue is under way.

The press conference is given by Special Advisor to the President Dr Hassan Saeed, Home Minister Dr Mohamed Jameel Ahmed, and Defence Minister Mohamed Nazim.

12:54 - Dr Hassan Saeed has said that GMR will not incur any losses if they act according to the notice given by the Maldivian government. On the other hand, if the Maldivian government proceeds according to the contract with GMR, it will incur serious losses.

12:55 - Dr Hassan Saeed has said that the order issued by the Singapore arbitration court against the Maldivian government is against the law, and that the government has decided to appeal this order.

13:00 - Home Minister Dr Jameel has said that the government is prepared to pay the necessary compensation following the termination of the agreement signed by former President Mohamed Nasheed's government with GMR.

13:03 - Dr Hassan Saeed has said that a delegation of the Maldivian government, including Attorney General Aishath Azima Shakoor, is currently in Singapore; and that efforts are under way to appeal the temporary order issued today by the Singapore court.

13:07 - Nazim has said that from Saturday morning onwards, the airport will be operated by government company MACL. He expressed confidence that this will be done smoothly, and that GMR will leave the airport on Saturday.

13:11 - Dr Hassan Saeed has said that the compensation the Maldivian government may be required to pay following the termination of the contract with GMR, is not yet known.

13:12 - Dr Jameel has said that those who carried out criminal activities in relation to awarding the airport to GMR will be brought to justice.

13:13 - Dr Hassan Saeed has said that the Singapore court, when it issued today's order, did not consider the criminal activities related to this case and the losses incurred by the Maldivian government.

13:16 - Acting Transport Minister Nazim has said that the notice from India's exim bank to repay the loan obtained by GMR with guarantee provided by Maldives, has not yet been received.

13:18 - Dr Hassan Saeed has said that former President Nasheed's administration did not seek the advice of the then Attorney General prior to awarding the airport project to GMR.

13:21 - Dr Jameel has said that there are several problems associated with Finance Ministry's notification that followed MACL's letter to deduct Airport Development Charge (ADC) from concession fees, when Civil Court had already ordered that ADC cannot be imposed.

13:23 - Dr Jameel said that the Maldivian government's decision will not change following the order by Singapore court. He said that the government is prepared to pay the compensation to terminate the contract.