NewsMay 25, 2020

Resort Lease Payments Extension Will Cost Government MVR 900 Million – Finance Minister

The resort lease payment extension to 6 months will cost the government MVR 900 million, Finance Minister Ibrahim Ameer revealed.

The Minister said that resort lease payments contributes vastly for government earnings with MVR 1.7 billion budgeted to receive even this year.

However the government is expected to receive MVR 800 million now due to the lease payments deferment.

“We have not abolished the payment, it is only deferred. So the government will earn this next year,” Finance Minister Ibrahim Ameer said.

The government has also extended the land lease payments for the agricultural plots and lease payment for any other land given by Finance Ministry for various purposes.

These decisions were made in efforts to to roll back the lockdown measures and facilitate the hoteliers and companies to revive the economy, the government reports.