The Economic Council has announced the cancellation of seven financial agreements related to the development of domestic airports across the country. The decision, revealed during a press conference at the President’s Office by Principal Secretary to the President on Public Policy Abdulla Nazim, signals a shift from the previous government’s approach to airport development.
Nazim explained that the primary reason behind the cancellation was the inability to meet payment deadlines specified in the agreements. Despite granting extensions for these payments, the Council determined that the required funds were unlikely to be received, even with additional time. However, Nazim did not specify which projects were affected by this decision.
These agreements were part of a former government’s ambitious plan to develop domestic airports on various islands, intending to enhance connectivity and stimulate economic growth in those regions. The inability to secure necessary financing has prompted a reevaluation of these projects.
The government’s future infrastructure strategies are yet to be clarified in light of this new direction.
