Speaker of Parliament Mohamed Nasheed has stated there is currently no condition which requires the utilisation of the Pension Fund. The speaker made the statement after opposition parliamentarians expressed concerns over the rejection of the bill proposed by Parliamentarian Mohamed Saeed on withdrawing money from the Pension Fund.
The speaker said the bill was not placed on the agenda as it concerns state funds and parliament regulations dictate that only the government can propose bills related to state funds and expenditure. He also said there are sufficient funds in the state to provide basic necessities to the people, adding there is currently no condition that requires the use of the Pension Fund.
Noting the utilisation of Pension Fund could have dire consequences on the country, Speaker Nasheed said touching the Pension Fund is not a policy of the ruling party, Maldivian Democratic Party (MDP). Therefore, he said he cannot agree to deliberate on utilising the Pension Fund by an administration operating under the manifesto of MDP.
The speaker noted the parliament has made more funds available for the state through the central bank, Maldives Monetary Authority (MMA), by suspending certain clauses of the Fiscal Responsibility Act for one year. He added the government is also acquiring several foreign grants and loans to assist economic recovery amid the COVID-19 pandemic.
Meanwhile, Minister of Finance Ibrahim Ameer has also recently stated the government has no plans of using the Pension Fund amid the COVID-19 pandemic.