President Dr. Mohamed Muizzu has announced that the government is actively working to settle all outstanding bills owed to private businesses before the upcoming month of Ramadan.

Speaking at a meeting held tonight at the Social Center with small and medium-sized enterprise (SME) owners, the President stated that efforts to pay the outstanding amounts to private companies are underway, with a strong focus on settling a significant number of bills by the end of this month.

"God willing, we are aiming to clear payments for a substantial number of parties by the end of this month, within the remaining 15 days or approximately two weeks. Additionally, we are striving to settle the remaining amounts entirely by January, before Ramadan begins," the President affirmed.

President Muizzu noted that in light of the government's outstanding bills, certain concessions are already being offered regarding payments owed by businesses to the Maldives Inland Revenue Authority (MIRA). He further committed to exploring ways to expand these concessions to benefit a greater number of businesses.

"Alongside examining any legal considerations, we will engage with MIRA and the Ministry of Finance to identify the best possible solution for this. A favorable resolution is certainly expected. While a specific number or amount cannot be stated at this moment, a solution will definitely be provided," he emphasized.

The President also assured that opportunities would be created for private businesses to acquire land at an affordable rate for warehouse purposes. He pledged to provide effective solutions for every concern raised by the business community.

The government commenced efforts to settle outstanding bills owed to businesses last October. The government has noted that these bills include a large number of payments for work commissioned by the previous administration of President Ibrahim Mohamed Solih.