Meedhoo MP and leader of the Maldives Development Alliance (MDA), Ahmed Siyam Mohamed, has urged the government to remove companies created without purpose, highlighting inefficiencies within state-owned enterprises.

Speaking during a parliamentary debate on a proposed bill to amend the Tourism Act, which seeks to raise the green tax by 100%, Siyam argued that the country’s economic challenges go beyond taxation.

During his address, Siyam pointed out that while the Maldives now imposes higher taxes than many emerging economies, the creation of companies that serve the interests of each new president is straining the nation’s finances. He specifically cited MIFCO (Maldives Industrial Fisheries Company) and Island Aviation as examples of state-owned enterprises that have collectively cost the country USD 1 billion.

"No matter how much we increase taxes, it will not benefit the people if we continue to run companies that drain the state’s resources. This is an unsustainable situation for future generations," Siyam said.