Presidential Advisor Warns Payment Delays Threaten Construction Industry

Mohamed Ali Janah, President of the Maldives National Association of Construction Industry (MACI) and Principal Advisor to President Dr Mohamed Muizzu, warned at the Construction Industry Forum that payment delays for completed work are severely disrupting projects and causing cash flow problems. He stated that contractors are operating on tight margins, leading to delays and inability to pay workers. Janah noted that construction sector debt at the Commercial Bank increased by 6% in the first quarter, while operational activities declined by 9%. He also raised concerns about US dollar scarcity affecting imports of critical materials, amid reports that dollar reserves may be exhausted by end of August.

Mohamed Ali Janah, President of the Maldives National Association of Construction Industry (MACI) and Principal Advisor to President Dr Mohamed Muizzu, warned at the Construction Industry Forum that payment delays for completed work are severely disrupting projects and causing cash flow problems. He stated that contractors are operating on tight margins, leading to delays and inability to pay workers. Janah noted that construction sector debt at the Commercial Bank increased by 6% in the first quarter, while operational activities declined by 9%. He also raised concerns about US dollar scarcity affecting imports of critical materials, amid reports that dollar reserves may be exhausted by end of August.

Mohamed Ali Janah, President of the Maldives National Association of Construction Industry (MACI) and Principal Advisor to President Dr Mohamed Muizzu, warned at the Construction Industry Forum that payment delays for completed work are severely disrupting projects and causing cash flow problems. He stated that contractors are operating on tight margins, leading to delays and inability to pay workers. Janah noted that construction sector debt at the Commercial Bank increased by 6% in the first quarter, while operational activities declined by 9%. He also raised concerns about US dollar scarcity affecting imports of critical materials, amid reports that dollar reserves may be exhausted by end of August.

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