We want dialogue, not compensation: GMR
“We won the contract through a fair and square, transparent process. If it was an issue of compensation, we would have raised that on day one. They have not adhered to the contract. How can you trust them to pay the compensation?” the GMR official said. “Can they pay the accumulated cost to the company amounting to $700 million? I don’t think they have the capability to pay that kind of amount,” he added.
GMR’s proposed investment of $511 million in the Ibrahim Nasir International Airport at Male amounts to almost 40% of Maldivian economy. The country’s debt to GDP ratio, according to IMF, is marginally more than 80% while fiscal deficit is hovering at 16%. More than 40% of the government’s revenue is paid as salary.
According to media reports from Maldives, the ministerial cabinet committee that evaluated the agreement signed with GMR had said that the contract awarding the airport for 25 years was signed without the authorisation of the Attorney General.
However, FE is in possession of the letter of the then Attorney General of Maldives, Ahmed Ali Sawad, which stated on December 28, 2010,
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