President Dr Mohamed Muizzu announced today that the cabinet has come to a decision to seek majority shares of Dhiraagu and 100 percent shares of MWSC. 

At this afternoon's presidential press conference, President Muizzu said that the government has decided to increase its shares at Dhiraagu to 51 percent. 

"As you know, the government used to have majority share in Dhiraagu when the MDP's first administration sold the shares. It was a major public asset. What we believe is that it is imperative to increase government shares at Dhiraagu to 51 percent in public interest and to expand the country's economy," President Muizzu said. 

At present, the government holds 41.8 percent share in Dhiraagu. It's majority shares, at 52 percent, is held by Bahrain's Batelco, and there is 6.2 percent public shares. 

"So with the cabinet's decision, work has commenced now to secure a majority 51 percent of shares in Dhiraagu," the President announced. 

20 percent of MWSC's shares are held by a foreign company. The government, however, has now decided to obtain 100 percent shares of MWSC, the President stated today. 

"We have now begun efforts to buy back the 20 percent shares sold to a foreign company, and make the MWSC 100 percent owned by the government," the President said. 

20 percent shares in MWSC was also sold to Japan's Hitachi by the first MDP administration led by former President Mohamed Nasheed. 

Further details of these changes will be shared in the coming days by the Finance Ministry and other relevant institutions, the President said.