Minister of Housing, Land and Urban Development Dr Ali Haidar Ahmed has said that discussions are ongoing to change Housing Development Corporation (HDC) into a public company and to sell shares to the public.
Minister of Housing, Land and Urban Development Dr Ali Haidar Ahmed has said that discussions are ongoing to change Housing Development Corporation (HDC) into a public company and to sell shares to the public.
Speaking during yesterday's press conference at the President's Office where some decisions of the cabinet were shared, Haidar said that President Dr Mohamed Muizzu is considering selling public shares in HDC.
He said that the cabinet had deliberated on the matter in yesterday's cabinet meeting, but a decision has not been reached as of yet.
"Although a decision was not made in [yesterday]'s cabinet meeting, the President's intention is to make HDC a company in which the public also has shares. As a public limited company."
He said that further details would be shared following more research into this option.
The cabinet yesterday decided to merge some government owned companies in a bit to reduce expenditure. This includes transferring Fahi Dhiriulhun Corporation (FDC) under the oversight of HDC.
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