MPL and City Council reach agreement to share revenue

Maldives Ports Limited (MPL) has reached an agreement with the Male' City Council to share part of the revenue generated from the Male' North Harbour and T-Jetty harbor.

In response to a question asked by AVAS at a press conference held Sunday, MPL's CEO Shahid Ali said revenue generated by MPL from some Male' ports would be shared with the City Council in the form of rent. However, he did not share the rent or the amount per sqft of land.

"Both parties have reached an agreement, and we are at the contract stage," Shahid said.

The council has previously expressed concern that the council was not receiving any revenue from the North Harbour and T-jetty harbor. In response to the City Council's concerns, the President's Office January asked MPL to arrange for MPL to share some of its revenue from the ports under the City Council's jurisdiction.

A special team from both parties has been working on negotiating ways to share the revenue. The City Council has not yet said whether it has reached a specific agreement on revenue sharing. The council could not be reached for comment.

The T-jetty harbor was handed over to MPL during the government of former President Abdulla Yameen. The current mayor of the city, Dr. Mohamed Muizzu, was then the Housing Minister.