CEO Mohamed Wajeeh Ibrahim has stated that starting in April, Maldives Ports Limited (MPL) will take payments in US dollars for services rendered to vessels at the Male’ Commercial Harbour.
Consignees currently pay shipping agencies in dollars, but agents subsequently pay MPL in the local currency, the Maldivian Rufiya, according to Wajeeh, who made this explanation during a press conference. He declared that MPL has chosen to alter this procedure.
According to Wajeeh, shipping agents frequently pay MPL at the official bank rate of MVR 15.42 but swap dollars on the underground market for MVR 17 or 18. We are discussing a yearly sum of USD 30 million. It is necessary to take action on this, Wajeeh stated.
Carriers must be paid in US dollars by consignees. Importers are subject to a 20% surcharge if they pay in Rufiya, a policy Wajeeh deemed unjust. He cited the airport’s acceptance of carrier fees in US dollars as support for MPL’s use of the same strategy.
He emphasized that as the adjustment has nothing to do with the payments made by importers, it will not have an impact on the cost of items imported into the Maldives.
Up until 2008, MPL accepted US dollars as payment. However, due to a policy change, they now only accept Maldivian Rufiyaa.
advertisment
advertisment
