Discussion on issue submitted to parliament by MDP parlimentary group leader MP Ali Azim to review government’s plans to mitigate the adverse effects of Covid-19 to Businesses and families. Committee passed to send report to parliament with recommendations passed in the committee. Recommendation 1: To provide opportunity for SME loans to those who produce value added products in addition to MIFCO and provide opportunity to individuals who produce food products for relief packages. Recommendation 2: Maldives Monetary Authority take necessary measures to ensure that importers of food and medicine have access to foreign currency supplied by MMA to commercial banks in the Maldives. Recommendation 3: To establish a mechanism to assess people who are given benefits due to loss of job due to Covid-19 and to formulate a procedure to include self employed people. Recommendation 4: Small and medium enterprises, resort workers and the family of resort workers to be identified and also be offered assistance under the stimulus package. apart from stimulus package offered by BML. Recommendation 5: To report with details of assistance provided by the government to eligible parties along with detailed their assessment report to Economic Affairs Committee. Recommendation 6: To maintain a state fixed asset inventory registry with details of assets such as mortgaged assets of state owned companies, mortgage period etc. and to send it to Economic Affairs Committee. Recommendation 7: Moratorium given by banks for loans especially for loans given for real estate projects in Male' should be conditioned to reduce the rent from houses and apartments during the moratorium period. Recommendation 8: To increase the limit on loans issued under the economic recovery package to small and medium enterprises (by 20 to 30 percent) up to an amount that could cover the businesses' recurrent expenditures, and to arrange a reliable amount to businesses with the ability to repay the loans. Recommendation 9: To send detailed report on the implementation of government's relief packages to the Parliament every 15 days.
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