Former Finance Minister Ibrahim Ameer has said that many local companies are in a state of bankruptcy because of the government's non-payment of dues.

In his visit to Gaaf Dhaal atoll, President Dr. Mohamed Muizzu said MVR 500 million will be released to local companies this week.

Responding to Muizzu's remarks, Ameer posted a video interview from August 31, 2024.

"My target is to be able to pay the pending money by the end of November," Muizzu said in the interview.

Ameer highlighted that the money was not paid even after three months have passed since the deadline given by the President.

He added that the former Maldivian Democratic Party (MDP) government paid the bills during the Covid-19 pandemic and the start of Russia-Ukraine war.

"Even if the President thinks he can deceive the people by repeating the same lie over and over, the truth cannot be changed. Many contractors have not received any payments since this government came to power. A lot of companies are now in a state of bankruptcy," Ameer said.

Speaking at the Republic Day rally, President Muizzu said MVR 501 million has been paid for all bills below MVR 5 million that are over two weeks old.

But Adhadhu understands that numerous companies have not been paid for bills below MVR 5 million.

Some contractors told Adhadhu that bills have not been paid for more than a year.

However, Muizzu continues to claim that payments were being released and blames the former government for his government's failure to pay bills.