South-Henveiru MP Mohamed Abdul Kareem says the companies that have been tasked with constructing towers under the government’s housing project “Hiyaa” lack necessary experience.
Kareem said that, from the 2018 state budget, it is clear that the companies are struggling to pay off debt.
While government companies have become extremely weak in terms of their financial status, carrying out such a huge project through inexperienced companies show that government’s housing policy has failed, he said.
“STELCO had recently announced that it is in debt. It is unable to provide electricity to the people. How can one of the most important companies established to provide a basic service to the public complete a massive housing project?”
The MP said that none of the foreign companies that the government has given housing projects to within the last four years have started their projects. He also said that government has still not completed over 8000 housing units, for which agreements were signed during the Nasheed administration.
Kareem further said that no international party will issue loans to the Maldives given the country’s financial situation. He added that if loans are being granted by local banks, it would be a hindrance to granting loans to the public.