AGP Executive Report
Last update: 10 hours agoCost-of-living pressure: The MDP plans a “Dhathivejje” protest in Malé on Aug 12 at 4:30pm over rising prices of basics like baby formula, basmati rice, coffee powder, cooking oil and milk, with Nasheed blaming dollar shortages, inflation and stalled debt repayment plans. Tourism mix: Latest ministry figures show resorts hosting about 73% of arrivals so far this year (902,228 of 1.2m), with July arrivals up 46% month-on-month to 184,735. State-company scrutiny: Parliament backed ACC and Police probes into Fenaka promotions granted in 2022-23, while Housing Minister Muthalib says Fenaka delays stem from “mess” left by the Solih era and contract issues. Right-sizing debate: Former Deputy Speaker Nazim claims Maldives Ports Limited has ~600 excess staff and a payroll above MVR 20m, echoing wider calls to right-size SOEs amid the current economic squeeze. Business crackdown: Economic Affairs says 107 expat-run businesses were shut for operating illegally, following inspections tied to 447 complaints. Finance & trade: Maldives Islamic Bank reports Q2 assets at MVR 19.31b and deposit growth, while VIA hit a record 621 tonnes of sea-to-air transshipment cargo in a month. Digital payments: The Favara-UPI corridor is live, enabling instant MVR-to-INR transfers to Indian UPI bank accounts via Bank of Maldives and Maldives Islamic Bank. Logistics rules: MACL introduced mandatory vessel registration via a “Harbour Portal” for access to Velana’s jetty and lagoon area. Fisheries update: MIFCO says July fish purchases jumped fourfold to 2,474.8 tons, lifting payments to vessels to MVR 49.76m.
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