Privatization and Corporatization Board (PCB) has said that they are seeking a CEO for Maldives Industrial Fisheries Company (MIFCO) to fill the post for a period of four years.
Privatization and Corporatization Board (PCB) has said that they are seeking a CEO for Maldives Industrial Fisheries Company (MIFCO) to fill the post for a period of four years.
The Terms of Reference shared by PCB state that for this post, they are seeking persons who have prior experience in a position of that level in other companies.
Based on the selected person's abilities, the salary will be between USD 9,500 (MVR 146,000) and USD 12,000 (MVR 185,000), PCB announced.
As per the announcement, applicants must hold a Masters Degree or a Degree in Business Management and Administration or a related field. They must also have management experience of eight years at a local company, or four years at an international level company.
Priority will be given to applicants with prior experience at a company which was involved in fish processing, fish exports or other types of fish production.
This announcement seeking an international CEO for MIFCO has come at a time when the company's financial status has been severely challenged, with the company struggling to pay dues to fishermen for fish purchases. The company said that the payments remained pending due to delays in receiving subsidies from the government. Fishermen have been recently staging protests against non-payment of these dues.
The incumbent government has stated that to date, they have spend MVR 900 million on MIFCO. This includes MVR 270 million in subsidies for fishermen.
The government has been undertaking efforts to transform MIFCO into a profitable company that does not have to rely for backing from the government.
PCB said that the most qualified and experienced candidate from amongst the applicants will be appointed to the post of MIFCO's CEO.
Applications can be sent in until the 15th of July.
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