The Ministry of Transport has introduced a new regulation, gazetted today under the title “Regulation on Paying Annual Fees and Fines for Land and Sea Vehicles in Installments,” which provides vehicle owners with the flexibility to pay annual fees and accumulated fines in installments. This initiative aims to assist those who struggle to settle these amounts in a single payment.
Eligibility for this opportunity requires meeting five specific conditions: the outstanding amount must exceed MVR 10,000, the original payment deadline must have passed, the individual must apply for installment payments as per the regulation, they must not have previously taken advantage of such an installment plan, and they must be the registered owner of the vehicle.
A commitment fee is necessary to initiate this process. If not paid within 14 days, the opportunity to pay in installments will be forfeited. Upon receipt of this fee, the Ministry will formalize an agreement outlining the monthly installment sum, adjusted for the commitment fee.
Should a payment lapse occur within 30 days of signing this agreement, the Ministry retains the right to terminate the arrangement. This regulation is designed to ease financial pressures on vehicle owners by offering a structured payment solution.
