Malé, Maldives – President Ibrahim Mohamed Solih on Saturday stated that the Atoll Store rent from years 2017 to 2019 will be deposited to Atoll Councils by the end of next week. This will add up to MVR 34 million according to the Finance Minister.
The President has also decided that the complete rent from Atoll Stores would hereby be transferred directly to Atoll Council budgets.
Atoll Stores are allocated land plots given to each atoll in the Maldives from the capital city during the term of the first president of the first republic Ibrahim Nasir (from 11 November 1968 to 10 November 1978). The Atoll Stores are located on a considerably large plot in the capital city that could be built even as highrises with profits to be utilized to develop atolls. However, the atolls have not been able to utilize the Atoll Stores to their full potential.
The issue was raised by multiple Council Presidents during the ongoing “Viavathi Raajje” event held to facilitate policymakers, the local council, and WDC representatives to gather and deliberate on ways to resolve issues faced at atoll and island level.
Atoll Stores were transferred under the Finance Ministry with Councils receiving only half of the rent with the implementation of Decentralization Act (Act no. 07/2010). From 2014 to 2018, atolls did not receive rent from the stores. This administration deposited the amounts for the years 2014 to 2016. The remaining from 2017 to 2019 is to be deposited next week.