Baa Atoll Council has leased four sandbanks in a bid to generate income.
Speaking to PSM News, President of Baa Atoll Council Ahmed Afrah said that the islands were previously used without any rules. He said that the issue has now been resolved and the council has started making great financial progress under the powers given to councils by the Decentralisation Act. As such, he said the council opened seven sandbanks for lease.
The council stated that three of the four sandbanks were taken from resorts in the atoll. As such, Thiladhoo Resorts Private Limited rented a sandbank for USD8,300 per annum, Empire Investment Private Limited rented a sandbank at a cost of USD23,410 per annum and Landaagiraavaru Private Limited rented two sandbanks each for USD60,200 per annum.
The council stated that renting the sandbanks will be a great financial boost and the aim is to identify more such locations and rent them out to generate a good income.