Maldives News Bulletin - National Day Special Edition

President Dr Mohamed Muizzu and First Lady Madam Sajidha Mohamed attended the flag ceremony marking National Day 1446 on Wednesday. The special function was held at Republic Square and began at 6 a.m. Wednesday. 

They were accompanied by Vice President Hussain Mohamed Latheef, his spouse, Aishath Afreen Mohamed, and senior government officials. 

Upon arrival, President Dr Muizzu and the First Lady were welcomed by the Minister of Defence, Mohamed Ghassan Maumoon, and the Minister of Dhivehi Language, Culture and Heritage, Adam Naseer Ibrahim. 

In addition to the flag-hoisting activity, a special prayer, marking the significance of the occasion, was recited during the ceremony. The ceremony concluded with the Maldives National Defence Force (MNDF) military band performing the Maldives’ national anthem.

^{Source: The President’s Office}

President Dr Mohamed Muizzu has posthumously bestowed the Highest Honour for Service to Maldivian Nationhood on the late Hussain Salahuddin. The honour was conferred at the official function held at Dharubaaruge Wednesday morning to mark National Day. 

The President decided to bestow this honour posthumously on Hussain Salahuddin for his numerous contributions to the progress and advancement of the nation’s core tenets: our religion, language, heritage, and culture. His continuous efforts to develop the minds and ideas of Maldivians in these areas through the spread of knowledge as a form of national service were particularly noted. Recipients of this honour are awarded a shield of honour. 

The Highest Honour for Service to Maldivian Nationhood is the highest accolade accorded by the President in recognition of individuals who have rendered exceptional services to Maldivian nationhood. The President has decided to confer this special honour in accordance with the powers vested in him by law. 

The recipient of the Highest Honour for Service to Maldivian Nationhood, the late Hussain Salahuddin, was the most innovative poet in Maldivian history. Not only was he an exemplary son, but he was also a crucial pillar upholding the nationalistic values of the nation. His work on the biography of Prophet Muhammad (PBUH) demonstrates his knowledge and fluency in both Dhivehi and Arabic. 

^{Source: The President’s Office}

President Dr Mohamed Muizzu has conferred National Award of Honour on seven individuals and National Award of Recognition on 10 individuals and a company. The Awards were conferred in the official ceremony held on Wednesday to mark this year’s National Day. 

The President presented the recipients of the National Award of Honour with commemorative shields and badges of honour. The President also presented the recipients of National Award of Recognition with commemorative plaques. 

The recipients of the National Awards were determined by the National Awards Committee, formed by the President for this occasion. 

National Award of Honour was conferred upon; 

• The Late Mohamed Thaufeeq: for his lasting and noteworthy contribution to the nation 

• Dr Abdul Azeez Yoosuf: for his excellent contribution to the health sector 

• Mohamed Majid: for his excellent contribution to developing small to medium enterprises sector 

• Moosa Latheef: for his excellent contribution to media and news sector 

• Mohamed Nasir: for his excellent contribution to the sporting sector 

• Ahmed Mohamed: for his excellent contribution to the sporting sector 

• Hassan Manik: for his excellent contribution the performing arts sector 

National Award of Recognition was conferred upon; 

• From the field of Quranic studies, Qari Ahmed Ibrahim: for his remarkable efforts to promote Quranic studies among the public 

• From the field of Quranic studies, Usthaz Abdul Rahman Yoonus: for his remarkable efforts to promote Quranic studies among the public 

• From the field of Islamic studies, Sheikh Izzuddin Adnan; for his remarkable efforts to educate public on Islam, Islamic values and religion 

• From the field of Islamic studies, Sheikh Ahmed Maumoon; for his remarkable efforts to educate public on Islam, Islamic values and religion 

• From the education field, Ismail Sajid; for his remarkable efforts to train and develop technical individuals 

• From the fisheries field, Ibrahim Thahkhaan; for his remarkable efforts to preserve and enhance pole and line fishing 

• From the field of trade and economy, Riyan Pvt Ltd; for their remarkable efforts to develop business sector 

• From the field of trade and economy, Amir Mansoor; for his remarkable efforts to introduce revolutionary services and products to the market 

• From the boat building sector, Abdul Rahman Yoosuf; for his remarkable efforts to preserve and enhance boat and yacht building sectors 

• From the culinary arts sector, Fathimath Umar; for her remarkable efforts to train and develop technical individuals 

• From the youth sector, Hussain Ali; for his remarkable efforts to promote volunteer work in the community. 

In his address, the President conveyed his congratulation to all recipients. These awards are conferred annually to acknowledge and commend the efforts of individuals and organisations that have made significant contributions to the development of the nation and the betterment of society.

^{Source: The President’s Office}

Nationhood council will in future be the National Heritage College: President 

President Dr Mohamed Muizzu has announced that the Nationhood Council will in future become the legally empowered National Heritage College. He made the statement in his address to the nation on occasion of this year’s National Day. 

In the official ceremony held on Wednesday President had formed the Council. 

Following the announcement, the President stated that this College would be a first in the nation’s history. As such, the College will be formed on a bedrock of membership networks. The College will focus on educational research on Maldivian heritage, customs, history, and nationhood, as well as ensuring that our nationhood becomes part of the Maldivian life. 

The Council is a vital part of the President’s pledge to revitalise nationalism in the Maldives. The Council is formed on five main areas.

They are, Dhivehi language, Maldivian history, Maldivian heritage, Digitalisation, and Maldivian crafts. Members were appointed to these areas as well, with the letters of appointment being presented to the Members by the President. 

The Members of the Council are; 

• From the field of Dhivehi language: Maryam Thaufeeq 

• From the field of Maldivian history: Uz Kashima Ahmed Shakir 

• From the field of Maldivian heritage: Hassan Zareer 

• From the field of Digitalisation: Mohamed Abdul Gadir 

• From the field of Maldivian crafts: Maryam Isha Azeez

^{Source: The President’s Office}

President Dr Mohamed Muizzu has highlighted that a nation’s most precious capital is its mother tongue, which serves as the intermediary for creating a national culture. He made these remarks during the official function commemorating this year’s National Day. 

Speaking at a function held at Dharubaaruge today, the President stressed the importance of the mother tongue. He described it as a vital political force and a necessary weapon for a nation’s survival. He also mentioned that having a mother tongue was one of the secrets behind the Maldivian people’s ability to unfurl their proud independent flag. 

On this occasion, the President urged all citizens to make this year’s National Day a time to restart, prioritising their local language. He emphasised that interactions with the mother tongue in creating national cultures must also conform to the tenets of Islam.

 In this context, the President stated that the essence of patriotism is sacred religion. He expressed the aim to strengthen religious practices and pave the way forward. He noted that the Zakat House was established to strengthen the Zakat system. 

The President also urged people to relay only good words while communicating and to refrain from speaking if they have nothing good to say. 

^{Source: The President’s Office}

Vice President Hussain Mohamed Latheef has reiterated that the foremost priority of the Administration is the ‘Maldives First Policy’. He made the remarks in a video message commemorating the National Day of Maldives. 

In his video speech, the Vice President underscored President Dr Mohamed Muizzu’s strong commitment to protecting Maldives’ independence and sovereignty. He noted the President’s strict measures to protect national autonomy and called on all citizens to stay resolute and work together in support of this goal. 

In his video message, the Vice President emphasised the importance of national unity and dedication to preserving the country’s freedom.

He urged the people to draw inspiration from historical figures such as Bodu Thakurufaanu and to cultivate individuals who will defend the nation’s interests. 

The Vice President concluded his video message by extending National Day wishes to all the people of the Maldives and encouraging all citizens to cherish their country. He also urged them to diligently fulfil their national duty to serve the nation. 

On Tuesday, the Vice President also shared a post on the social media platform ‘X’, extending felicitations to the citizens on the National Day of Maldives. 

^{Source: The President’s Office}

Minister of Dhivehi Language, Culture, and Heritage, Adam Naseer Ibrahim has praised President Dr. Mohamed Muizzu’s dedication to restoring the original identity and skills of the Maldivian people. Speaking at the National Day ceremony held at Dharubaaruge, the Minister noted that the President placed significant importance on reviving the age-old virtues, identity, and skills that define the Maldivian heritage. 

Minister Adam Naseer Ibrahim expressed his appreciation for the President’s commitment to these values, highlighting the growing public interest in reviving the pillars and principles of Maldivian nationalism. He underscored the importance of rekindling knowledge of the nation’s identity and history. 

As part of these efforts, a National Center for the Research of Maldivian Cultural Heritage has been established under the National Project for the Restoration of Maldivian Nationality. The center is currently preparing to initiate research focused on the culture, heritage, and history of the Maldivian people. 

President His Excellency Dr Mohamed Muizzu has extended condolences to His Majesty King Salman Bin Abdulaziz Al-Saud, King of the Kingdom of Saudi Arabia, following the demise of Her Royal Highness Princess Latifa bint Abdulaziz Al Saud. 

In his message, the President extended his deep condolences, highlighting that the cherished memories of Her Royal Highness bring solace and peace during this difficult time.

The President has offered heartfelt prayers for comfort and strength for His Majesty and the Royal Family. He also emphasised that the Government and the people of the Maldives stand united in their prayers for the departed soul. 

Concluding the message, the President also prayed that Almighty Allah grants Her Royal Highness eternal rest and provides strength to His Majesty, the Royal Family and the people of Saudi Arabia to endure this great loss. 

^{Source: The President’s Office}

Minister of Foreign Affairs, Moosa Zameer called on the Deputy Prime Minister and Minister of Foreign Affairs of the United Arab Emirates, His Highness Sheikh Abdullah bin Zayed Al Nahyan Monday during his ongoing official visit to the United Arab Emirates (UAE). 

During the meeting held at the Ministry of Foreign Affairs of the United Arab Emirates, Minister Zameer formally delivered to His Highness Sheikh Abdullah bin Zayed Al Nahyan, a letter from President Dr Mohamed Muizzu, addressed to the President of the UAE, His Highness Sheikh Mohamed bin Zayed Al Nahyan. 

Both Ministers discussed ways to deepen the strong bonds of friendship and cooperation between the two countries.

Minister Zameer conveyed appreciation to the leadership and the government of the UAE for the generous support and close cooperation extended to the Maldives by the UAE over the years. The meeting concluded with the two ministers reaffirming the commitment of both countries to continue working closely together, bilaterally and in the international fora, on issues of mutual interest. 

Minister Zameer was accompanied at the meeting by the Ambassador of the Maldives to the United Arab Emirates, Mohamed Hussain Shareef; Ambassador-at-Large, Ahmed Naseer; Secretary, Bilateral, Dr. Hala Hameed; Joint Secretary, Mariyam Reesha; and Deputy Ambassador at the Embassy of the Maldives in the UAE, Hassaan Waheed. 

^{SOURCE : Ministry of Foreign Affairs}

President Dr Mohamed Muizzu has ratified amendment to the Foreign Investment Bill, Securities Act, Legal Profession Act, Health Services Act, and Business Registration Act. 

The amendments were passed by Parliament on Thursday, August 22, 2024, during the 32nd sitting of its second session. 

As such, the 2nd Amendment to the Business Registration Act (Act No. 18/2014), introduces significant procedural changes for foreign entities looking to invest or conduct business in the Maldives, establishing specific requirements for these activities. 

According to the Amendment, foreign entities are required to re-register as a company or partnership in the Maldives under the Companies Act and secure approval for their investments in line with the Foreign Investment Act. 

Additionally, the Amendment allows foreign investors to engage in securities authorized under the Maldives Securities Act (Act No. 2/2006) without having to meet the requirements. It further stipulates that if a foreign investor intends to acquire equity, the total shares purchased and owned by them in a single transaction shall not exceed 10% of the company’s total shares. 

The third amendment to the Maldives Securities Act (Act no. 2/2006) was made in conjecture to the changes to the Business Registration Act. Specifically, the amendments stipulate that guidelines for foreign investments in securities can be established, assigning the Capital Market Development Authority (CMDA) the responsibility for establishing guidelines for such investments. 

Additionally, CMDA is also tasked with establishing a monitoring and compliance system to ensure that securities transactions adhere to the established guidelines. 

The bill also mandates that a regulation governing foreign investment securities be made and implemented within six months of this amendment’s ratification. This regulation must detail the types of securities that are eligible for investment, the qualifications required for investors, and the specifics of trading these securities on the stock exchange. 

The Foreign Investment Bill was also ratified on Tuesday. The objective of the bill is to create a conducive environment for foreign capital, technology, knowledge, and skill transfer through investments to increase foreign investment in the country, and to lay down stringent guidelines for the development of the country’s economy. The bill outlines provisions for identifying investment opportunities for foreign investors in the Maldives, including provisions on investor protection and safety measures, investor responsibilities, and details the terms for compensation and other related provisions. 

With the Act coming into force, the 45-year-old Law on Foreign Investments (Act no. 25/79), which came into effect on 1st May 1979, will be repealed. 

The President also ratified the 3rd amendment to the Legal Profession Act (Act no. 5/2019). The bill mandates that the members of the Executive Committee of the Bar Council, namely the President, Vice President, and Members, are elected from lawyers, rather than having the Attorney General sit in the Executive Committee, as specified in clause 6 (c) of the old law. As such, the new amendment has increased the number of elected lawyers from six to seven and struck all the references made in the law to the Attorney General. 

Additionally, the amendment also designates diplomatic missions as public notaries, eligible to act as certifiers for documentation issued by authorities, registered educational institutions and any other similar documentation required by Maldivians living abroad. 

The health sector also got a fresh boost, with the President passing the first amendment to the Health Services Act (Act no. 29/2015). The bill expands the objectives of the national health service system to ensure that public health services meet stringent safety and quality standards, thereby safeguarding the physical and mental well-being of citizens. 

Once implemented, this law will see the appointment of a Director General of Health Services and a Commissioner of Quality Assurance, both of whom will be granted broad powers to upgrade and ensure quality of health services provided to public. 

^{SOURCE : The President’s Office} 

Vice President Uz Hussain Mohamed Latheef has launched “Tradian”, a platform that links business owners and service provision agencies. The platform was launched in a ceremony held in JEN Maldives on Tuesday and is the first phase of the National Single Window Project. 

The platform will facilitate a one-stop solution for all permits that need to be taken by any business to trade in the Maldives. It effectively links all relevant line Ministries and agencies under one portal, enabling timely and easy access to services. The portal is part of the Government’s aim of creating a more investor friendly market in the Maldives. The portal will be fully implemented and in public use by the end of the year. 

National Single Window Project is a partnership project of Ministry of Economic Development and Trade, Tradenet Maldives Corporation, and similar agencies. 

^{SOURCE : The President’s Office} 

Minister of Foreign Affairs Moosa Zameer has sent a message of felicitation to the Minister of Foreign Affairs, International Economic Cooperation and Telecommunications of the Republic of San Marino, Luca Beccari, on their Foundation Day. 

In his message, Minister Zameer extended warm felicitations and best wishes on behalf of the people of the Maldives to the Minister, the Government, and the people of San Marino. In his message, Minister Zameer expressed his hope that the friendship between the two nations would continue to grow in the years to come. 

^{SOURCE : Ministry of Foreign Affairs} 

First Lady Madam Sajidha Mohamed emphasised our children’s safety, well-being, and future as the highest priority of launching and endorsing the National Action Plan. She made the remarks while speaking at the Launching Ceremony of the National Action Plan on Prevention and Response to Violence Against Children. 

The First Lady expressed that the launch of the Action Plan is a monumental step towards addressing the reality of violence and abuse against children. She notes the Plan is a comprehensive strategy, a clear roadmap that outlines how to prevent, protect, and respond to violence against our children. 

The First Lady expressed her vision for a future where every child grows up in a violence-free environment, allowing them to develop into responsible, resilient, and confident individuals. She emphasised that achieving this vision requires a collective effort, including raising awareness, creating safe environments, and providing families with the knowledge and resources to support and nurture their children. 

The First Lady emphasised that those who have experienced violence require more than just protection. She underscored that they need support to overcome their trauma, heal, and rediscover hope and confidence. She stressed that by investing in their resilience, we are addressing their immediate needs and laying the foundation for a brighter, more secure future for them and our entire nation. 

^{SOURCE : The President’s Office}

Minister of Social and Family Development Dr Aishath Shiham has emphasised the importance of building good relationships with children, for their development. 

Speaking at the ceremony held to launch the National Action Plan on Prevention and Response to Violence Against Children, Minister Dr Aishath Shiham highlighted the significant progress made at a national level, in providing services, strengthening the system and conducting awareness programmes related to child protection. The Minister revealed that the government’s manifesto underscored the necessity of establishing a violence-free environment for children and ensuring that they are in good health and under the care of a caring family. She noted that the launch of the national plan intends to encourage action to create a safe environment for children. 

Furthermore, Minister Dr Aishath Shiham stressed the significance of utilising policies to respond to cases in which children are victims of domestic violence. To achieve this goal, the minister called for collaborative efforts of the relevant authorities and organisations and individuals as well. 

Moreover, the Minister recognised that growing up in a safe environment is a right of every child, regardless of their nation or culture. However, she acknowledged the significant challenges in ensuring that no child is deprived of this right, regardless of the global efforts made to mitigate the issue. Therefore, the Minister urged all for their support in creating an environment which appreciates, protects and empowers children, while renewing the overarching goal of protecting the future of children as well. 

^{SOURCE : PSM} 

First Lady and Chief Guide, Madam Sajidha Mohamed, met with the Asia Pacific Committee of the World Association of Girl Guides and Girl Scouts (WAGGGS) on Tuesday. The meeting took place at the Official Residence of the President, Muleeaage. 

During the meeting, the First Lady welcomed the committee members to the Maldives. The committee members acknowledged the First Lady’s active participation in Girl Guide activities and events, and her continuous support as Chief Guide. The First Lady expressed pride in the success of guiding activities in the country. 

At the meeting, the First Lady, along with the committee members, discussed the challenges and barriers faced by the movement and explored avenues for enhancement and improvement. Issues highlighted included the need for proper facilities, an urgent requirement for a campsite, and the necessity for training and programmes for the youth. 

At the end of the meeting, the First Lady and Asia Pacific Committee members exchanged commemorative gifts.

Attorney General Ahmed Usham has stated that the ratification of the amendment to the Legal Profession Act is an important measure to ensure that the Bar Council is able to operate autonomously. 

The bill was ratified by President Dr Mohamed Muizzu on September 3, and mandates that the members of the Executive Committee of the Bar Council—specifically the President, Vice President, and other members—must now be elected from among practising lawyers. This change removes the provision in the previous law that allowed the Attorney General to sit on the Executive Committee, as outlined in clause 6(c) of the original Act. 

Due to the amendment, the number of elected Bar Council lawyers has increased from six to seven. The amendment also eliminates all references to the Attorney General’s role within the Bar Council. To comply with the new law, the additional member must be elected within 60 days of the amendment’s ratification. 

On a social media post, Attorney General Usham underscored the importance of the amendment to ensure that the Bar Council has been ensured of the autonomy to address the issues relating to lawyers. 

Lawyers had, in past, raised concerns over the impartiality of the Bar Council, that had the Attorney General as a Member of the Council. President of the Bar Council Hussain Siraj disclosed the uncomfortableness in delivering opinions independently, precisely due to this issue. 

Furthermore, the amendment designates diplomatic missions as public notaries, authorising them to certify documents issued by authorities, registered educational institutions, and similar documentation required by Maldivians living abroad.

^{SOURCE : PSM} 

The Maldives signed the BBNJ Agreement on Tuesday as its 92nd signatory. On the behalf of the Maldives, the Permanent Representative to the United Nations, Dr Ali Naseer Mohamed, signed the Agreement at a ceremony held in the United Nations Headquarters in New York on 3 September 2024. 

In 2015 the United Nations General Assembly decided to develop a legally binding instrument relating to the protection and sustainable use of marine biological diversity and areas beyond national jurisdiction. Following this, the instrument’s substance was compiled between 2016 and 2023, and the legal instrument was adopted on 19 June 2023 at the General Assembly as an Agreement.  

On 11 February 2024, the Cabinet of Ministers concluded to sign and ratify the Agreement and submitted the case to the People’s Majlis on 29 February 2024 for parliamentary approval.

On 13 May 2024, the People’s Majlis gave the consent to be a party to the Agreement. 

Where the protection of the biodiversity within the territorial sea of the Maldives is a significant responsibility of the Maldives, this responsibility includes ensuring the area beyond its national jurisdiction and the biological diversity contained within are protected and sustainably used. 

To that end the Agreement signed Tuesday sets up a procedure to establish large-scale marine protected areas. The Agreement contains marine technological transfer mechanisms and formalities relating to fighting climate change. As these are important to the protection of the territorial sea, the Maldives stands to gain significant benefits from being a party to this Agreement. Until the signing of the Agreement by the Maldives, 91 countries had signed the Agreement while 8 countries have ratified the Agreement. The Agreement is open for signature by all countries until 20 September 2025 and will enter into force 120 days after the 60th country has ratified the Agreement.

^{SOURCE : PSM}

The Male’ Water and Sewerage Company Private Limited (MWSC) has commenced work on the largest water tank ever to be installed in the Maldives, located in Hulhumale’. 

The project is part of the company’s ongoing efforts to ensure water safety in the region. The installation was officially inaugurated at a ceremony held at the Hulhumale’ Operation Centre by Minister of Construction and Infrastructure Dr Abdulla Muththalib and Managing Director of MWSC Abdul Matheen Mohamed. 

The tank, which will be installed by MWSC employees, is set to significantly boost the water storage capacity of Hulhumale’ to 22,600 tonnes. 

Speaking at the inauguration ceremony of the project, Abdul Matheen highlighted that the new tank will increase the water storage capacity of Hulhumale’ by 80 percent.

He emphasised that ensuring water security and increasing production capacity are among the company’s top priorities. He also noted plans to install two larger tanks in the capital, Male’ City, in the future, and noted that critical water security projects in the Greater Male’ Region are expected to be completed by mid-next year. 

MWSC stated that the project, with an estimated cost of USD 2.2 million, is scheduled for completion by February next year. The increased storage capacity will strengthen the company’s efforts to provide uninterrupted and sustainable clean drinking water to the region. 

As part of the Greater Male’ Region Water Security Plan, MWSC has decentralised water production and established production centres in two areas of the capital. It includes the installation of pump stations to connect the water grids of Male’ and Hulhumale’ via the Sinamale’ Bridge. In addition, two more water storage tanks are being installed in the city. The initiative aims to enhance the region’s water production, storage, and supply capacity, ensuring a secure and reliable water service for residents. 

^{SOURCE : PSM} 

Chief Executive Officer (CEO) of Maldives Ports Limited (MPL) Mohamed Wajeeh Ibrahim has announced that the establishment of maritime services in the northern region of the Maldives will enhance the efficiency of services provided to vessels docking in the area. He made this statement during the inauguration ceremony for MPL’s new services in the north. 

MPL, in collaboration with the State Trading Organisation (STO), is preparing to launch offshore bunkering services on September 12. While STO will handle the bunkering services, MPL will manage all other essential services required by vessels. 

To streamline service provision, MPL has introduced a new website enabling vessels to directly request services. Vessels will be connected to the port facility via a call center, where MPL will provide the necessary services. These will be available at MPL’s new facility in Uligan, Haa Atoll. 

MPL is to partner with other government agencies to provide a comprehensive range of maritime services. These include pilotage, yacht docking, crew change services, and supply of essentials. MPL will also provide water in partnership with Fenaka Corporation Limited, maintenance services with Kulduffushi City Port, oil changes with the Maldives Transport and Contracting Company (MTCC), and waste disposal in collaboration with Waste Management Corporation Limited (WAMCO). 

During the launch ceremony, CEO Wajeeh emphasised that MPL’s maritime services will be available around the clock. STO’s Managing Director, Shimadh Ibrahim, outlined the organisation’s long-term goals to expand regional services and develop a state-of-the-art port facility. These initiatives will be part of the Maldives Economic Gateway Project.

^{SOURCE : PSM} 

Director-General of the World Trade Organization (WTO) Ngozi Okonjo- Iweala has praised the Maldivian government for its efforts in creating a business-friendly environment for trade activities. 

In a virtual meeting with Minister of Economic Development and Trade, Mohamed Saeed, Okonjo-Iweala recognised the Maldives’ significant progress in meeting its obligations under the WTO Trade Facilitation Agreement. She extended her congratulations on the successful launch of the Maldives National Single Window, “Tradian,” which she noted highlights the government’s commitment to providing a more convenient environment for business operations. 

The National Single Window Project, launched on September 3, began in 2014. The project’s development was accelerated under this administration, having faced delays in previous years. This initiative, a collaboration between the Ministry of Economic Development and Trade and Tradenet Maldives, aims to offer seamless access to essential services through a unified online platform. The Ministry expressed optimism that Tradian will address several business concerns and enhance trade facilitation. 

^{SOURCE : PSM}

The Privatisation and Corporatisation Board (PCB) has issued a directive to State-owned Enterprises (SOEs) to implement strict cost-cutting measures, that includes halting the issuance of salaries and allowances in dollars. This measure is part of a broader strategy led by President Dr Mohamed Muizzu to reduce SOE expenditures and address current financial and economic challenges. 

The PCB’s circular emphasizes the government’s commitment to economic recovery and outlines several cost-cutting measures. In addition to ceasing dollar-denominated salary payments, the PCB has instructed SOEs to limit new hiring to essential positions only, maintain current salary and allowance levels, and restrict overtime to critical situations. 

Other directives include suspending intra-atoll and international flights, with an emphasis on holding virtual meetings with international clients and suppliers.

Officials traveling for official purposes are advised to avoid First Class if the flight exceeds six hours and to minimize expenses on trips initiated by foreign parties. The PCB also encourages cost-effective travel options for domestic and international travel. 

Furthermore, SOEs are instructed to refrain from participating in seminars or fairs unless there are clear, direct benefits. The PCB has urged SOEs to adopt renewable energy sources, adhere to annual procurement plans and budgets, limit purchases to essential items, and reduce spending on corporate social responsibility (CSR) and sponsorships. Additionally, it advised against unnecessary expenditures outside of the approved budget. 

^{Source: PSM}