The government of Maldives has decided to proceed ahead with a major maneuver in state-owned enterprises.
As such, the Maldives government confirmed to Mihaaru news, its decision of swapping the executives of two state-owned enterprises; WAMCO and STELCO, as well as one state institution.
To bring effect into the decision, the government has forwarded its request to make the changes to Privatization and Corporatization Board (PCB).
According to reports, the state has decided on appointing the former president of Elections Commission Mr. Ahmed Shareef as the new Managing Director of State Electric Company (STELCO).
Meanwhile, STELCO's incumbent Managing Director Mr. Hasan Mughnee is will reportedly take the helm of the Energy Authority under the mandate of the Ministry of Environment, Climate Change and Technology.
On the other hand, the current Managing Director of Waste Management Corporation (WAMCO) Mr. Adam Mohamed will be transferred to Post Office as its executive.
However, the incumbent executive of the Post Office Mr. Ahmed Shafeeq's possible transfer has not yet been disclosed by the state.
Reports of the former Elections Commission president's possible appointment to STELCO initially started sometime during late 2021.
Furthermore, it was earlier reported that Mr. Shareef will be appointed to an executive designation of Fenaka Corporation. However, this decision did not come to pass owing to some internal issues of the state-owned utility company.
Meanwhile, employees at STELCO attest to rumors of Mr. Shareef taking charge of the corporation, sometime in the near future.
Though the incumbent Managing Director Mr. Hasan Mughnee is credited for improving the overall direction and performance of STELCO since taking official responsibility for the designation, it is still unclear on the reasons for his seemingly abrupt transfer.
Mr. Mughnee is politically aligned with Jumhoory Party, which is in coalition with the ruling party.
Meanwhile, the prospective Managing Director of STELCO Mr. Shareef has been mired with public lambaste and criticism for the alleged collusion with the former Maldives President Mr. Abdulla Yameen Abdul Gayoom in rigging the presidential elections.
However, this was seemingly overturned when the former president had suspected and publicly accused Shareef of vote-rigging after the 2018 presidential election.
The former Elections Commission president had denied the allegations made on him on both accounts.
Meanwhile, the government of Maldives has not publicly explained its sudden decision for a major revamp of several state-affiliated institutions.
Moreover, several commenters and persons privy to state policies indicate that the changes will become effective sometime during the current week.
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