Housing Minister Abdulla Muththalib has said that an estimated MVR 58 billion is required to complete all ongoing projects initiated by the ministry.
The Minister made these remarks in a written response to an inquiry submitted by Hulhumale' South MP Ahmed Shamheed.
Shamheed had requested clarification on the total estimated budget required to finalise the Housing Ministry's projects, as well as the amount allocated in this year's budget to sustain their progress.
In his formal response to Parliament, Muththalib estimated the total cost for project completion at MVR 58 billion. However, the letter noted that the allocation for these projects within the current year's budget remains unclear.
"The estimated budget required to complete the projects stands at MVR 58,831,473,267. For 2026, projects are to be managed under a program budget. Accordingly, the Ministry of Finance and Public Enterprises allocates funds for projects in alignment with the implementation plans," the Housing Ministry stated.
"Specific amounts have not been earmarked for individual projects in the 2026 budget."
While Muththalib indicated that the exact expenditure for projects scheduled for completion this year is unknown, opposition members had previously raised concerns during the budget approval process regarding the lack of detailed project-specific funding in the national budget.
During the "Ahaa" public forum held last night, the Finance Minister addressed ongoing government initiatives, stating that 1,273 projects are currently underway. He further assured that arrangements are in place to ensure timely payments for these projects.
