Increasing GST and TGST and selling shares of companies can solve the financial problems, Parliament Speaker and former President Mohamed Nasheed said.
President Nasheed made the statement while addressing a meeting with MDP members during his current visit to Addu City. Speaking at the meeting, MDP President Mohamed Nasheed said it was necessary to increase GST and TGST and sell some shares of corporates, to solve the financial problems of the state.
He said the government's debt is increasing day by day and the state will have to spend a lot to pay off the debt over the next two years. The biggest challenge would be running out of money when the debt has to be repaid, Nasheed added.
In addition, Nasheed highlighted the importance of the government making changes to its current plans. So instead of increasing GST and TGST to two percent, the government should increase the amount to one percent and increase the selling shares from companies, he said.
The government has decided to increase GST to 8 percent and tourism GST to 16 percent from next year. The government has also decided to suspend any new projects and take some measures to cut costs.
President Nasheed made the statement while addressing a meeting with MDP members during his current visit to Addu City. Speaking at the meeting, MDP President Mohamed Nasheed said it was necessary to increase GST and TGST and sell some shares of corporates, to solve the financial problems of the state.
He said the government's debt is increasing day by day and the state will have to spend a lot to pay off the debt over the next two years. The biggest challenge would be running out of money when the debt has to be repaid, Nasheed added.
In addition, Nasheed highlighted the importance of the government making changes to its current plans. So instead of increasing GST and TGST to two percent, the government should increase the amount to one percent and increase the selling shares from companies, he said.
The government has decided to increase GST to 8 percent and tourism GST to 16 percent from next year. The government has also decided to suspend any new projects and take some measures to cut costs.
