The Parliament's Public Accounts Committee has ruled that an audit report on Fenaka is to be drafted twice a month, regarding cases against the company, established reforms and the state of ongoing projects.
Regarding the special report on Fenaka Corporation's goods, financial status and record keeping, the committee issued many important proposals after conducting research. The proposals state that many of the highlighted cases are to be investigated and to directly inform the Public Accounts Committee as it goes on.
Important points in the proposal:
- In violation of Fenaka Corporation's regulations on procuring goods and services, companies that have family connections to the former Managing Director were awarded 92 projects worth MVR 49 million from 2021 to 2023. As MVR 31 million was given to the companies, projects started quickly without any planning for the future, and as major financial damages were incurred, it is to be reported to the Anti-Corruption Commission (ACC) and the police, along with both the ACC and the police submitting details about the ongoing investigation every three months.
- As Fenaka Corporation's regulations on procuring goods and services were violated, it is to be reported to the ACC and the police, with Fenaka to submit details once every two months.
- As there have been projects that have financially damaged the company, the cases are to be investigated, with details to be submitted to the Public Accounts Committee once every two months.
- As agreements have been submitted that include attempting to obtain services at prices higher than the market rate, the company has been told not to make payments to contractors that are higher than the market rate.
- Fenaka is to provide details once every two months to the Public Accounts Committee regarding the amount of advance payments that will be recovered within agreements regarding the construction of powerhouses and office buildings that were voided after being made.
- As the purchase of lubricant and spare parts required by Fenaka was conducted without a tendering process, the relevant agencies are to be requested to take the necessary steps against the responsible parties, and for details to be shared with the Public Accounts Committee once every two months.
- As old generators have been brought in during the instance of procuring brand new ones, the matter is to be informed to investigation agencies, with details to be shared with the Public Accounts Committee once every two months.
Additionally, projects that have seen waste of company goods and finances are to be investigated, with the necessary steps to be taken against the responsible parties, and details to be shared with the Public Accounts Committee once every two months.
The proposals to the committee were submitted by Fonadhoo Constituency MP Mohamed Mamdhooh.
As per the Fenaka audit report that was publicized in October 2025, the number of permanent and temporary staff had increased up to 78 percent within three years. Records show that the company had 3,500 employees in 2020, with it having increased to around 7,000 in 2023.
