Finance Minister Moosa Zameer, on Thursday night, said the government is targeting to settle outstanding debt to local small and medium enterprises (SMEs) within 15 days.
There have been mounting concerns regarding prolonged delays by the government in settling outstanding debts to businesses, with many reporting operational difficulties as a result. Despite providing multiple payment timelines, the government has yet to complete the settlement of these dues. 
Speaking on state media’s 'Raajje Miadhu' program on Thursday night about President Dr. Mohamed Muizzu’s address earlier in the day, Minister Zameer said one of the biggest challenges faced by SMEs was prolonged delays in payments for goods and services provided to the government and state-owned enterprises.
The Minister emphasized the need for an immediate solution, saying the Ministry aims to disburse outstanding payments to SMEs within 15 days.
“In order to encourage their growth, numerous efforts have been made to disburse funds to SMEs during the past year. In this regard, the government settled MVR 6.3 billion in bills from local businesses last year. The Finance Ministry also cleared MVR 1.5 billion in bills from foreign businesses,” he detailed.
Minister Zameer further said the Ministry settled MVR 882 million in longstanding bills owed by state-owned companies to various businesses.
He added that MVR 1.3 billion owed to businesses has been settled so far, with MVR 791 million still pending as of December 21.
Notably, President Dr. Mohamed Muizzu has designated the next two years, starting 2026, for the implementation of special measures for advancing SMEs.
Accordingly, the government revised its procurement policy on Wednesday, which will prioritize SMEs in awarding contracts valued below MVR 5 million.