President Dr. Mohamed Muizzu has revealed that the state is owed MVR 13 billion, and that work on recovering these funds have begun.

Speaking at the 59th Independence Day celebrations held at the Social Center last night, the President said the state has a large amount of money that has not been received and other governments have not dared to begin the task of recovering it.

However, this government will do so and it is legally due to the state, he said.

He assured that the state would prioritise the recovery of funds owed. He indicated that land rent amounting to USD 513 million, TGST amounting to USD 102 million, GST amounting to USD 3.3 billion, and USD 1 billion in corporate income tax are yet to be received by the state. He stated that if the state were to recover these amounts, much of the fiscal burden would be alleviated.

The President said the work of recovering the money has started and some people have started paying the money.

"It is expected that many people will pay. These are not small businesses but big businesses. Many businessmen will pay. The rest will be paid through the dispute," he said.

President Dr. Mohammed Muizzu said he hopes to receive at least two-thirds of the money.