Business Politics

State-Owned Companies Rendered Inoperable Due to COVID-19 to be Dissolved

A report on dissolving state-owned companies that have been rendered unproductive due to COVID-19 has being approved by the Parliament.

60 members attended the Parliament meeting, and the report was passed with the approval of 53. The report was compiled and submitted by the Committee on State-Owned Enterprises.

The report called on the State to immediately shut down state-owned companies that have produced no output during the current pandemic and requested the Finance Ministry to take steps to park and dissolve such companies where possible.

SOE Committee made 20 suggestions to the Government regarding actions to take during COVID-19, which includes checking the mandate of companies incurring losses, and if any activities outside their mandate are ongoing, and to shut down any such activities immediately.

Also, the SOE Committee suggested opening the opportunity through the Civil Service Commission for locals to replace foreigners in executive posts in state-owned and private companies.

Full details are available at the link below:

Source URL: Corporate Maldives

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