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SOE committee seeks to reform Privatization and Corporatization Board

16 July 2019, MVT 11:23
A session of the parliament's State Owned Enterprises (SOE) Committee in progress. PHOTO: HUSSAIN WAHEED/ MIHAARU
16 July 2019, MVT 11:23

The parliament’s State Owned Enterprises Committee (SOE), on Monday, approved to send the proposal for President Ibrahim Mohamed Solih to reform the Privatisation and Corporatization Board (PCB), to the parliament floor.

Although PCB members must be approved by the parliament as per the law, the members' names were not submitted to the parliament during former President Abdulla Yameen Abdul Gayoom’s administration. The board currently comprises of only five out of the mandated seven members.

Auditor General Hassan Ziyath, in a letter to SOE, declared that PCB had not fulfilled their lawful duties thus far. Meanwhile, the Ministry of Finance affirmed that it had provided the board with all necessary resources.

SOE made the unanimous decision to reform PCB at a meeting held on Monday. However, following mixed opinions on presenting the request to the president in a letter, Feydhoo MP Mohamed Nihad suggested debating the matter in parliament first. Fuvahmulah Central MP Hussain Mohamed Didi seconded the suggestion, and it was subsequently approved unanimously by the committee.