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The new law gives the President direct authority to allocate and lease uninhabited islands and lagoons for tourism, industry, fisheries, agriculture and other purposes.
Mariyam Adheela
Special ceremony held for the ratification of newly passed bills and amendments. — Photo: President’s Office
Male’: President Dr. Mohamed Muizzu today ratified amendments giving the President direct authority to allocate and lease uninhabited islands and lagoons for various purposes.
The law will come into force on October 1.
Under the new law, the President can allocate uninhabited islands for tourism, industrial activities, fisheries, agriculture, social purposes and State use.
The President can also determine the purpose for which lagoons are allocated and the government agency responsible for them.
Uninhabited islands can initially be leased for 21 years, with the relevant ministry or local council able to extend the lease to 50 years.
The new annual lease rates are Rufiyaa 3 per square metre for industrial and economic activities, Rufiyaa 2.50 for fisheries and agriculture, and Rufiyaa 2 for social purposes.
Lagoons leased for fishing will carry an annual rate of Rufiyaa 0.50 per square metre.
The law requires details of uninhabited islands and their lease schedules to be shared with the Anti Corruption Commission and the Auditor General’s Office.
The previous legal framework, which has been in place since 1998, also gave the President final authority over the allocation of uninhabited islands.
