PCB President Hamdhy Ageel removed from post

President Dr Mohamed Muizzu has dismissed Privatization and Corporatization Board (PCB) President Hamdhy Ageel from his post last night.

However, the reason for his removal remains unclear.

Hamdhy was appointed as PCB President on November 22, 2023.

He previously served as the Managing Director of Fuel Supply Maldives (FSM) and the Managing Director of Maldives Road Corporation.

Just before his dismissal, Hamdhy issued two circulars directed at state-owned companies. One restricted companies from giving any additional gifts beyond the Ramadan allowance to employees, while the other called for reducing company expenditures.