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Govt decides excluding Mughnee from PCB, to appoint for different role

Mohamed Rehan
30 November 2023, MVT 13:31
Former Managing Director of STELCO Hassan Mughnee-- Photo: People's Majilis
Mohamed Rehan
30 November 2023, MVT 13:31

The government has reversed its decision to appoint former Managing Director of State Electric Company (STELCO), Hassan Mughnee as a member of the Privatization and Corporatization Board (PCB).

Speaking with Mihaaru News, the Strategic Communications Minister of President's Office Ibrahim Khaleel said that Mughnee has been considered for a different governmental role due to which his name was excluded from the PCB members list.

Khaleel added details of it would be shared at a later date.

President Dr. Mohamed Muizzu earlier on Thursday, last week, made the decision to appoint Mughnee to PCB. However, the list of members shared by PCB on Wednesday, November 29, had his name omitted.

Mughnee officially endorsed the current President during the run-off elections earlier in September. He has served in various senior positions during the outgoing government led by Ibrahim Mohamed Solih as well.

Mughnee is a Masters Graduate in Business Administration from Brandeis International Business School, USA.

PCB, formed under the Privatization and Corporatization Act for state-owned enterprises (SOEs), consists of seven members including its President and Deputy President.

The board is mandated with the appointment of board members to the SOEs.

The board had lacked quorum for the past three months, which the current government rectified with new appointments. PCB has since begun appointing top executives to SOEs.