President Dr. Mohamed Muizzu has announced that the salaries of political employees and public officials will be reduced as part of an initiative to lower state expenditure.
In a post on X on Wednesday night, President Dr. Muizzu said the government has decided to take important steps to cut expenditure under the economic reform agenda, ahead of presenting the budget for the upcoming year.
The salary cuts include a 10 percent reduction for those in political positions, as well as employees of government-owned companies, with the exception of banks. Furthermore, the President has capped the salaries of heads of state-owned companies at MVR 90,000. Currently, some companies have a salary structure of more than MVR 100,000.
Additionally, President Dr. Muizzu has proposed a 10 percent salary cut for heads of independent institutions, judiciary leaders, and members of Parliament.
Employees earning less than MVR 12,000 will be exempt from these reductions.
The President has also requested that 50 percent of his own salary not be paid during this period. These measures will be in effect for the next two years.
