The government has decided to award more than 200 projects without bidding to attempt a world record at a time when investments have slowed down and plans are underway to print money to pay bills.
Some sources confirmed to Adhadhu that the government is currently preparing to award the projects to make a world record. It is being carried out in collaboration with the President's Office, the Finance Ministry and other government ministries. The ceremony will be held next week.
Adhadhu understands that the signing of the projects will start from 8:30 pm. The signing ceremony is expected to continue late into the night. More than 200 projects will be signed at the ceremony.
While the government wants to award projects without bidding in order to make a world record, the Public Finance Rules were changed on October 12 to allow the cabinet to award projects without bidding.
Meanwhile, the economy is in a fragile state and payments to private contractors were suspended after this government came to power. The government has now decided to print money to pay the contractors.
The prices of commodities have also risen sharply due to the economic situation. Inflation has risen by 4.14 percent in the year since August 2024.
The government has to repay at least USD 1.2 billion in loans next year. Experts says repaying the loans will be a difficult task. These include USD 500 million in sukuk and loans to India and China.
Multiple projects were signed since President Mohamed Muizzu assumed office in November 2023. But none of these projects have progressed on schedule.
Some of the halted projects include Fushidhiggaru land reclamation, Thinadhoo airport project, fisheries sector projects, Gaadhoo transshipment project, Ihavandhippolhu transshipment project and monorail project.
India's Madhya Pradesh state's Rural Development Minister Gopal Bhargava made a world record by awarding 2,551 projects on September 17, 2023. But this attempt was not listed by the Guinness World Records.
