Author: Minivan News

Parliament rejects resolution on MVR 300 million BML loan

Parliament yesterday rejected 27-17 a resolution submitted by Maldivian Democratic Party (MDP) MP Ahmed Sameer calling for an inquiry into the government borrowing MVR 300 million (US$19.5 million) from the Bank of Maldives.

The loan was obtained without parliamentary approval as required by the Public Finance Act.

The government had previously told local media the the BML loan was borrowed instead of US$65 million loan programme previously approved by the Majlis for budget support, and contended that further approval from parliament was therefore not required.

However, Counsellor General Fathmath Filza told the Finance Committee that the US$65 million loan was only to be borrowed from foreign lenders and that the government has to seek parliamentary approval before borrowing from a local bank as per the Public Finance Act.

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Bank of Maldives net profit for 2012 rises to MVR 200 million

The net profit of the Bank of Maldives Plc Ltd (BML) for 2012 has reached over MVR 200 million (US$13 million) by the end of the third quarter.

In a press release yesterday, BML revealed that the net profit in the third quarter of 2012 was was MVR 161 million, MVR 121 million up from previous quarter.

“By end of Q3 operating profit reached MVR 402.7M, an increase of 30% over the same period last year. Net Interest Income increased from 333.6M in Sep 2011 to 372.8M in the 9 months to Sep 2012. This is a 12 percent increase compared to the same period last year.

“Deposits grew over MVR 306 million from the same period last year, a reflection of continued strong deposit growth. Deposit as of the end of the quarter was MVR 7.6 billion compared to MVR 7.3 billion a year ago,” the press release noted.

“Our solid financial performance and extremely strong liquidity position ensure that the bank continues to be well positioned,” said Peter Horton, MD & CEO of Bank of Maldives. “The strong growth on our net profit is a testament to the efforts of our entire team and our ability to adapt to ever-changing market conditions.”

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President Waheed pledges sewerage system, new health centre for Hoarafushi

President Dr Mohamed Waheed Hassan Manik has pledged to the people of Hoarafushi in Haa Alif Atoll today that funds would be included in next year’s budget for a sewerage system and new health centre for the island.

Newspaper Haveeru reported today that Waheed gave the assurances to the people of Hoarafushi during a visit to observe damage caused by severe flooding.

The President was accompanied on the trip by independent MP for Dhaalu Meedhoo, Ahmed ‘Sun Travel’ Shiyam.

Shiyam also accompanied Waheed during a recently concluded tour of Dhaalu Atoll, during which the former vice president pledged a number of infrastructure projects for several islands in the atoll.

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PPM congress postponed for third time

The government-aligned Progressive Party of Maldives (PPM) has postponed its national congress for a third time, scheduling the party’s first congress for January 2013.

Local daily Haveeru reported today that that the party cited “political turmoil” as the reason for the delay. The newspaper noted that the party’s charter stipulates that a congress should be held in the first six months after official registration.

The party held its inaugural convention in October 2011.

PPM Interim Secretary General Yumna Maumoon – daughter of the party’s figurehead and former President Maumoon Abdul Gayoom – explained that the decision was made by the interim council after the party failed to secure an appropriate venue to host the congress.
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CCHDC warns of potential epidemic

The Centre for Community Health and Disease Control (CCHDC) has warned of a potential outbreak of diseases caused by heavy rainfall across the country.

In a press statement today, the CCHDC said the present climate and heavy rainfall posed risks of diseases such as diarrhoea spreading in the islands.

Meanwhile, newspaper Haveeru reported today that two junctions burst open in Haa Dhaal Hanimadhoo, spreading waste and feces into the island. Heavy rainfall that began at 5:00pm yesterday reportedly lasted nonstop till 4:00am, inundating 85 percent of the island with three feet of water.

Hanimaadhoo Council Chair Abdul Salam said 12 homes were flooded and household items were damaged by the rain.

Joint efforts were still underway from last night by police, the Maldives National Defence Force (MNDF) and islanders to pump water, he said.

MP for Haa Alif Kelaa, Dr Abdulla Mausoom, meanwhile tweeted today that flooding has also been reported from Kelaa, Filladhoo, Ihavandhoo and Baarah.

President Dr Mohamed Waheed Hassan Manik visited Hoarafushi in Haa Alif today, which suffered the heaviest damage due to flooding.

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Heavy rain damages agriculture fields in three atolls

Agriculture fields in Haa Alif Baarah, Gaaf Alif Nilandhoo and all islands of Laamu Atoll have been damaged in the heavy rainfall experienced across the country.

Local daily Haveeru reported today that 90 percent of farmland in Laamu Atoll was “destroyed” by the rain.

Laamu Atoll Council Chair Mohamed Rasheed told the newspaper that 80 percent of farmers in the atoll would cease to have a source of income. Farmers in the southern atoll earn a monthly average income of between MVR20,000 to MVR30,000, Rasheed said.

He added that the rain also damaged some homes, including 29 households in Fonadhoo.

Of the 11 inhabited islands in Laamu atoll, only three reported no damages, Rasheed said.

Moreover, as a result of damage to a sewerage pump in the island of Gan, waste was spreading into the island from two junctions.

The rains that started on Monday evening lasted non-stop until Tuesday night, he said.

Meanwhile, Nilandhoo Councillor Asif Mohamed told Sun Online that 280 fields in the island have been completely destroyed.

Heavy rains meanwhile flooded agriculture fields in Haa Alif Baarah.

Baarah Councillor Hussain Fahmy told Haveeru that floodwaters have not receded from the farmlands as of this afternoon. Heavy rains continued to fall last night, he said.

Damage to wooden stoves was also causing difficulties for islanders, the councilor added.

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Maldives turns full circle, writes Nasheed in FT

Most people know the Maldives for its luxurious honeymoon suites or “How to spend it” beach villas, writes former President Mohamed Nasheed for the UK’s Financial Times.

But I write this article having spent a night in an altogether different class of accommodation: a Maldivian jail cell. I am no stranger to these institutions, having spent much of my adult life in incarceration, punishment for advocating democracy in my country, an Indian Ocean archipelago of 1,192 islands.

Most recently I was jailed in 2006 when the Maldives was ruled by the dictator Maumoon Gayoom. I faced terrorism charges for giving a speech against corruption, which the regime claimed “terrorised” listeners. After 28 years in power, Mr Gayoom had finally consented to hold a multi-party presidential election and I feared I would be barred from standing. Under pressure from street demonstrations and international protest the regime relented, and I became my country’s first elected president in 2008.

Today things have turned full circle. Once again, I have been jailed. Once again, an authoritarian regime,effectively controlled by the old dictator, is pressing politically motivated charges against me. Once again, I may be prevented from competing in a presidential election, which must be held by the end of next year.

The Maldives, a youthful, Muslim country whose people rose up and shook off decades of authoritarian rule, provides an important lesson for democrats in Egypt, Tunisia, Libya and other countries caught in the Arab uprisings. Even after the revolution, the old guard can linger on and suffocate fledgling democracy.

On Sunday I will face an extraordinary court, established especially to hear my case. I am to be tried for abuse of power, in particular for the arrest of a corrupt judge, who was an ally of Mr Gayoom. My conviction is a foregone conclusion. Mohamed Waheed, my former vice-president, may decide to pardon me, but only in a way that ensures I remain barred from seeking office next year. The Maldivian people are seeing their economy collapse and their election stolen from them. If the world is watching, it is seeing a young Muslim democracy fail.

I hope the international community pressures the Waheed regime to make good on its promises: to bring human rights abusers in the security forces to book; to cease the harassment of peaceful political activists; and to allow internationally monitored elections in which all candidates are allowed to stand.

Whether I win or lose is irrelevant. What is important is that a genuine election is held, and the will of the Maldivian people – not the military’s force of arms – is the final adjudicator of my nation’s future.

Read more

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Former Managing Director of Felivaru faces corruption charges

The Anti-Corruption Commission (ACC) has requested the Prosecutor General’s Office (PGO) press corruption charges against the former Managing Director of Felivaru Fisheries, Hamid Ahmed.

Newspaper Haveeru reported yesterday that Hamid was accused of abuse of authority in selling scrap material from the fish cannery without a bidding process in January this year.

While the agreement stipulated that the transaction should be made in US dollars, the ACC noted that payment was made in local currency.

Following the transfer of presidential power on February 7, Hamid was replaced by an appointee by President Dr Mohamed Waheed.

However, former Secretary General of the Dhivehi Rayyithunge Party (DRP), Hassan Rasheed of G. Sherenade, was appointed Managing Director of Felivaru last week to replace former MD Ali Ahmed, who was sacked from the post after the ACC forwarded a corruption case against the senior official for prosecution.

Former Chairman of Felivaru, Mohamed Imthiyaz, a member of the government-aligned Jumhooree Party (JP), was also dismissed from his post on September 25 following allegations of corruption and misappropriation of funds.

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Court releases 15 suspects arrested in Jalapeno Restaurant

The Criminal Court has released 15 suspects arrested during a police raid on the Jalapeno Restaurant in Male’ last Thursday, reports Sun Online.

A police media official confirmed that the suspects were released by the Criminal Court when they were presented to court for extension of detention.

Three suspects however still remain in custody, the media official said.

The restaurant at the artificial beach area of the capital was temporarily closed down last week after police discovered a number of alcohol bottles under the tables on the second floor of the restaurant in addition to packets containing hashish oil and heroin.

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