Mohamed Anas, who previously served as the President of the Privatization and Corporatization Board (PCB), was appointed as the new Managing Director of the state-owned fisheries company, MIFCO, tonight.

Following Anas's resignation from his post at the PCB, the regulatory body for state-owned enterprises, Mohamed Nizaar was appointed to that position tonight. Nizaar previously served as the President of the PCB from 2014 to 2019.

The PCB stated tonight that Anas, of Dheliyage, GA. Devvadhoo, was appointed as the Managing Director and Chief Executive Officer of MIFCO today. The position became vacant following the resignation of Faruhath Shaheer on the 12th of April.

The new MD of MIFCO, Anas, formerly served as a Deputy Minister at the Ministry of Finance. According to information shared by the PCB, Anas played a key role in heading the Debt Management Department at the ministry, where he was instrumental in formulating debt management policies and risk management frameworks. He was also heavily involved in designing the state’s debt management strategies, preparing debt bulletins, and the issuance of sovereign bonds by the Maldives.

Anas holds a Master’s degree in Business Administration from MNU and a Bachelor of Arts in Accounting from the University of Hertfordshire in the United Kingdom.

"In addition, he has participated in training programs and forums related to state debt management and economic research organized by international organizations such as the World Bank and the Asian Development Bank (ADB)," the information sheet shared by the PCB regarding Anas stated.

Following the setbacks faced by the ruling party, PNC, in the recent local council elections and the referendum, President Dr. Mohamed Muizzu has begun implementing major changes to the government's administrative system. The government has stated that among the most important of these changes are reshuffling the heads of state-owned companies and reducing their workforce.