Parliament committee gives Economic Minister Saeed one hour to respond to MDP’s no-confidence motion

The Parliament’s General Purpose Committee has decided to grant Economic Minister Mohamed Saeed one hour to respond to the no-confidence motion filed against him by the opposition Maldivian Democratic Party (MDP).

The decision was made at the committee’s meeting on Monday, after PNC MP Ibrahim Didi (IB) proposed allocating one hour for Saeed’s response and an additional hour for members to debate the motion. The proposal was passed unanimously by members present.

The motion, signed by all 13 MDP lawmakers, accuses Saeed of neglecting his constitutional responsibilities as a cabinet minister, failing to remain accountable to Parliament, and engaging in actions prohibited for ministers. The party outlined six main allegations.

USD shortage and rising black-market rate

MDP said Saeed failed to implement meaningful economic reforms, resulting in a worsening USD shortage and pushing the black‑market rate above MVR 21. The party said Saeed dismissed the seriousness of the issue by calling the USD crunch “natural,” instead of working to resolve it.

Mismanagement of state assets and funds

The motion alleges that Saeed failed to safeguard state property and finances, citing extensive spending on overseas investor forums and project inauguration ceremonies at a time when the state’s financial situation is strained.  

MDP highlighted the Development Bank of Maldives, launched in 2024 but still not operational, which had incurred MVR 6.65 million in expenses by March 2025 without beginning services.

Special Economic Zone Act amendments

MDP said the government amended the Special Economic Zone Act in a manner detrimental to the state, despite the law’s original aim of diversifying the economy and reducing reliance on tourism.  

The party claimed the township initiatives concede significant control over certain areas to foreign parties and grant major tax concessions, raising concerns over sovereignty and long‑term economic impact.

Stalled major projects and weak revenue generation

The motion states that major projects announced by the incumbent administration have stalled and failed to generate expected revenue.  

MDP noted that the government had projected MVR 400 million in revenue from banking services in the first year, while the foundation stone of the USD 9 billion financial center was laid without disclosing details.  

The party also said that despite allocating a large portion of the Hoarafushi lagoon to foreign developers, no practical work has begun.

Failure to protect local businesses

MDP accused Saeed of failing to safeguard local businesses and address concerns raised by traders, saying policies under his leadership have not supported domestic enterprises.

Failure to answer Parliament

The motion also states that Saeed has repeatedly failed to answer Parliament properly, violating the accountability obligations of cabinet ministers.

The General Purpose Committee will now forward its decision to the Parliament Secretariat, after which the motion will be scheduled for debate on the Parliament floor.