Government has forwarded a proposal to the Parliament to seek approval to obtain a loan of MVR300 million as State budget support. Chair of the Finance Committee of Parliament Ahmed Nazim detailed that the government has sought the approval to secure the loan due to the delay in obtaining the USD65 million (MVR1 billion) loan as budget support from abroad sanctioned by the Parliament when the State budget had been approved.
“That’s why the government has asked for the approval of a loan of MVR300 million. But there had been divergences of opinion in the Committee today. Some members claimed that the loan should be approved by the Parliament itself,†Nazim said.
He claimed that he would seek the advice of the Counsel General and move forward in accordance with the resulting decision.
“If the Counsel General decides that the loan must be approved by the Parliament, we will adhere to his judgment,†Nazim said.
The Finance Committee Chair stressed that along with the loan interest and arrangement fee, the government would need to repay the bank a total of MVR384 million.
Government Spokesperson Abbas Adil Riza claimed that the decision to secure the loan from a local bank was made as it was deemed more beneficial to the State.
He admitted that the loan was being obtained to cover previous expenses owed by the State.
Tweet Bookmark Print Badge the Comments! Give badges to the best comments you see! You will get four badges a day 0 Comments To have full access to the interactive features available in Haveeru Online please register or sign in. or Post a Comment Loading comments... Please wait
No comments:
Post a Comment