Jumhooree Party (JP) presidential candidate Qasim Ibrahim has pledged to write off small and medium enterprises (SME) loans provided by the government as financial assistance.
The Maamigili MP previously pledged to forgive student loans and Hiya flat rents.
Campaigning in Alif Alif Mathiveri this morning for the September 9 presidential election, Qasim accused the government of issuing loans to "enslave" the public.
"With planning in advance, the public has been indebted to the state and people are being enslaved with SME loans," said the Villa business owner. "How can the people pay it back when they ask for it tomorrow."
Qasim heavily criticized the government's SME loan scheme, which he said was carried out for votes.
"If you bring me to the government, I will forgive all the SME loans issued by the state," Qasim said.
Issuing soft loans to expand small and medium-sized businesses was a campaign pledge of President Ibrahim Mohamed Solih. A company called SME Development Finance Corporation (SDFC) was set up for the purpose.
The corporation offers loans for startups, agriculture and local tourism. As of March, SDFC approved 1387 loans worth a total of MVR 1.6 billion.
