The Finance Ministry has published a list of nine state-owned enterprises for liquidation, citing that they are not profitable for the government and changes in policies and regulations have made them irrelevant.
“Companies in Liquidation” list is composed of SOEs established during Former President Nasheed’s administration and Former President Yameen’s administration.
The list includes;
- Maldives National Broadcasting Corporation (MNBC)
- Felivaru Fisheries Maldives Limited
- Koodoo Fisheries Maldives Limited
- Madivaru Holdings Private Limited
- Gan Airport Company Limited
- Works Corporation Limited
- Maldives Road Development Corporation (MRDC)
- Hazana Maldives Limited
- National Investment Management Company Limited
Most of the companies’ works and responsibilities were amended and transferred to other major companies in line with the current administration’s policies.
MNBC’s works were changed to Public Service Media (PSM) formed under the new public media regulation. Felivaru Fisheries Maldives Limited and Koodoo Fisheries Maldives Limited formed under President Nasheed’s administration are now being run by MIFCO. Meanwhile, the main works of Works Corporation Limited were changed to Maldives Road Development Corporation and now it’s once again changed to Road Development Corporation (RDC) formed under this administration. Further, Gan International Airport is now managed by Addu International Airport Private Limited which has a government’s stake of 70%, instead of Gan Airport Company Limited.
The finance ministry declared 19 state-owned enterprises that were not profitable last year. As part of the government’s policy, 9 of these SOEs will now be liquidated.
