Day: November 12, 2011

India extends US$100 million standby credit facility to Maldives

India today extended a US$100 million standby credit facility to the Maldives in support of economic stability. India has agreed to assist developing the country’s banking and financial infrastructure and capacity building.

“Bilateral cooperation between India and Maldives has been on a high growth trajectory in recent times,” said India’s Prime Minister Manmohan Singh. “We are working together on increasing connectivity and closer economic cooperation. These efforts are bearing fruit.”

In a signing ceremony at the President’s Office this morning, the two governments signed five agreements including a Memorandum of Understanding for international terrorism, drug trafficking, disaster management and coastal security; a program of cooperation between 2012 and 2015; and India’s commitment to renovate Indira Gandhi Memorial Hospital (IGMH).

A Framework Agreement on Cooperation for Development outlined a joint effort to support the growth of trade and investment, food security, fisheries development, tourism, transportation, information technology, renewable energy, communications and connectivity.

“These agreements have a number of advantages to both countries,” said President Mohamed Nasheed. “India’s contributions in these agreements goes a long way to the Maldives’ development.”

The heads of state announced their shared interest in opening passenger and cargo ferry services between Cochin and Male as soon as possible. The President said India would examining the project, and he hoped that it would support the development of North Kulhudhuffushi port.

Prime Minister Singh congratulated the Maldives on “an extremely successful SAARC Summit,” and expressed confidence in President Nasheed’s new role as SAARC chairman. “The pace of our activities will gather even greater momentum,” he said.

The President thanked the Prime Minister for his “moral and other support in holding and concluding the summit with such success.”

Following the ceremony, Prime Minister Singh delivered the first parliamentary address by a foreign head of state in the Maldives.

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Fantasy store investigation ongoing

Fantasy Store has re-opened after being closed for two days following the closure of its associated bakery, which was recently found to be using and selling expired products.

Bakers Fantasy was closed by Male’ City Council on October 28. The council subsequently inspected three storehouses and Aioli Restaurant, which is owned by Fantasy Pvt Ltd.

Fantasy shops are known for imported products and quality produce, and are popular among locals .

Speaking to local media Haveeru, councilor ‘Jambu’ Hassan Afeef said expired products were found in two of three storehouses, and that storehouses were not properly lit. All expired products were destroyed, he said.

Aioli’s inspection yielded no surprises, he added.

Police Sub-Inspector Ahmed Shiyam told Minivan News that the police had been ordered by the Prosecutor General’s (PG) office to investigate the matter.

“Fantasy is still being investigated,” said Police Sub-Inspector Ahmed Shiyam. “The police wanted to investigate the store to be 100 percent sure that nothing expired was being sold, and we have told the store that it can continue operations but cannot sell foods prepared on site.”

The bakery remains closed.

The operation has involved several public authorities. Police initially tried to get a court order to close down the bakery. However, Shiyam said a court order was not needed as the council could perform the closure directly.

Fantasy Store was closed by police after ignoring an order from Community Health Services, which has legal authority to order temporary closures.

“The police went to the administrative office with a search warrant, but the staff refused to open saying they didn’t have the authority,” said Shiyam. “Police called senior management, but they wouldn’t answer the calls. Police waited two hours before an official came to open the doors.

“At that point the police could have used force to open the doors, but they didn’t want to do that. We wanted a peaceful operation,” he said.

At the time, police removed expired goods including yogurts from Fantasy Store shelves. Shiyam said the police were sensitive to the business needs of the company and employees.

“We got all the necessary information for our investigation, and believe the store can operate under certain restrictions. We know that there is negative business impact if the store cannot operate, and don’t want to hurt the local economy,” he said.

Officials at the Prosecutor General’s Office and Health Ministry had not responded to inquiries at time of press.

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