Parliament's Budget Committee has approved a budget of MVR 42.6 billion for 2023, with a hike of MVR 160.9 million.

The budget hike was proposed by Dhaandhoo constituency MP Yaugoob Abdullah, who recommended an increase to the budgets of 14 offices and new Public Sector Investment Programm (PSIP) projects.

During the Budget Committee meeting held on Friday, MP Yaugoob proposed to add MVR 36.45 million to the office budgets and MVR 124.4 million for PSIP projects. The proposed hike to office budgets was seconded by Hanimaadhoo constituency MP Abdul Ghafoor while Thinadhoo North constituency MP Abdul Muguni seconded the hike to PSIP budget.

The proposals were passed with the votes of the pro-government members present at the committee. The committee also passed an 11 additional recommendations during today's sitting.

The Budget Committee also requested details for the MVR 1 billion budgeted for contingency. As such, MP Yaugoob also proposed to deduct MVR 25 million from the contingency budget and allocate it to the development of Dhoogas tourist facility in Addu City.

The committee also proposed to allocate MVR 70 million to Kulhudhuffushi port development as well as MVR 70 million to S. Hithadhoo port development. Some committee members also requested to allocate MVR 80 million for Addu Airport development.

Additionally, recommendations were also made by Thimarafushi MP Abdullah Riyaz to provide the MVR 250 million fisheries subsidy allocated for MIFCO directly to fishermen instead. He also recommended MVR 70 million to be allocated for MIFCO from the contingency budget to make Funnaddoo operational.

These recommendations were rejected by the Budget Committee.

With the budget approved by the Budget Committee on Friday, no changes were made to the revenue and grant aid estimates or budget deficits.