President Ibrahim Mohamed Solih today revealed that Fenaka Corporation has been given a deadline to make amendments to its procurement and bidding procedure. Moreover, if the amendments are not made within the given deadline, necessary action will be taken against the corporation.
Anti Corruption Commission (ACC) stated in its report to the President that Fenaka’s current procurement policy is a gateway to corruption and it needs to be revised.
Moreover, several corruption allegations have been made against Fenaka’s Managing Director Ahmed Saeed by its employees according to the ACC report.
Fenaka recently responded to these allegations in a detailed statement. Fenaka stated that it has made amendments to its procurement policy which includes a mandatory evaluation from Direct Purchasing Commitee for procurements between MVR 250,000 to MVR 5 million.