19 SOE to be shut down due to insufficient operation

Finance Ministry has released a list of SOEs that will be shut down due to insufficient operation after its establishment.

The list includes 16 SOEs marked to be demolished from 2016, 1 SOE from 2018 and 2 companies from 2019. The listed state-owned enterprises came into operation during President Nasheed and President Yameen’s administration.

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Maldives National Broadcasting Corporation, MNBC, Felivaru Fisheries Maldives, Koodoo Fisheries, Gan Airport Company, Maldives Road Development Corporation and MRDC are some of the companies listed down by Finance Ministry.

The Finance Ministry has stated that the SOEs are being shut down to lack of improvement in SOE management and operation as well as due to lack of profit made by the corporations.

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