Hamdhy Ageel has been dismissed from his position as president of the Privatization and Corporatization Board (PCB), the regulatory body overseeing state-owned enterprises.
The decision was confirmed by Heena Waleed, chief spokesperson at the President’s Office, on Thursday. However, she did not provide a reason for Hamdhy’s dismissal.
Hamdhy was appointed as both a member and president of the PCB by President Dr. Mohamed Muizzu on 22 November 2023, less than a week after the president assumed office. His removal comes a day after the PCB issued a circular instructing state-owned enterprises to reduce expenses and to refrain from providing employees with any gifts or incentives for Ramadan beyond the legally mandated special allowance.
Hamdhy holds a Master of Commerce from Australia’s Curtin University. He previously served as the Managing Director of Maldives Road Corporation and Fuel Supply Maldives.
The authority to appoint and dismiss members of the PCB lies with the President.
