Hassan Mughni, formerly the Managing Director of STELCO and Minister of State for Environment in the previous administration, has been designated as a board member of The Privatization and Corporatization Board (PCB).
During the second round of election campaigning, Mughni, who previously held significant roles in the government, lent his support to Dr. Mohamed Muizzu following the Jumhooree Party's substantial setback in the initial round.
Mughni, an alumnus of Brandeis International Business School in the US with a Master of Business Administration, is the fifth individual appointed by President Dr. Muizzu to the PCB board established under the Privatisation, Corporatisation, Monitoring, and Evaluation of State-owned Business Establishments Act.
Yesterday, the President announced the appointment of three board members and a president:
President: Hamdi Ageel, Henveiru Rangali 4
Accounting and Finance: Ahmed Mushtaq, Dhaftharu 4652
Banking Sector: Lina Abdul Jaleel, V. Blue Ocean
Business Administration: Moosa Fathhy Adam, Rankokaage, Shaviyani Komandoo
The PCB, mandated with the legal responsibility of appointing members to state-run company boards, will consist of seven members, as stipulated by law. The board had not achieved quorum for the past three months when the current government assumed power.
These appointments to the PCB board aim to address the non-appointment of vacant managing director positions within state-run companies.
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