President Dr. Mohamed Muizzu on Wednesday announced a ten percent reduction of wages for all political appointees in the government, senior State officials and management of State Owned Enterprises.

In a post on X today, President Muizzu said that under the economic reform agenda, next year's budget will implement a number of measures aimed at reducing public expenditure, including salary-related measures for a period of two years.

As such, the President has further decided to deduct ten percent from the salaries of political appointees, employees of state-owned companies except banks, heads of independent institutions, heads of the judiciary and members of Parliament.

In addition, the President has decided to set a maximum of MVR 90,000 for the heads of companies. Currently, some companies have a salary structure of more than MVR 100,000.

President Muizzu has also decided to forgo 50 percent of his salary. The present salary of the President is MVR 100,000 as per the Salaries and Other Allowances of the President and Vice-President Act.

The President said those earning less than MVR 12,000 would be exempted from these measures.