Major Changes to STELCO, WAMCO and Maldives Energy Authority Operations

President’s Office has proposed major changes to the operation of 2 state-owned enterprises: STELCO and WAMCO along with the state institution of Maldives Energy Authority.

Hassan Mughnee has been dismissed as Managing Director of State Electric Company (STELCO), and replaced by Ahmed Shareef – the former Chairman of Elections Commission. 

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Mughnee has been appointed to a top post within the Maldives Energy Authority under the mandate of the Ministry of Environment, Climate Change and Technology.

Waste Management Corporation (WAMCO)’s Managing Director Adam Mohamed will be transferred to Maldives Post Limited.

These proposed changes have been submitted to the Privatization and Corporatization Board (PCB) for approval. 

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