President Elect’s office said they were discussing changing the structure of utility services provided in Maldives.
Utility services are provided by four state owned companies; STELCO, FENAKA, Maldives Water and Sewerage Company (MWSC) and WAMCO. The president elect’s office said they were concened about the debt these companies hold and were discussing ways to change this.
Spokesperson for the transitional period Mohamed Firuzul said they were considering changing how utility services were provided and this would be done in a manner that will not be a hardship to the people or the state.
However, he said he is unable to disclose details regarding this yet. He said that even though they are considering restructuring the existing system, they do not have any intentions to privatise these companies.
He said state companies have to be operated as companies, and instead of being institutions that depend on the state budget, they always have to be able to manage themselves from the income they generate.
Firuzul said if they can fix the financial and administrative aspects of these companies, they will improve greatly. Therefore, they will be bringing in various company policies within an accepted structure.
Highlighting on the fact that the incurred high debt of the state companies, especially unpaid amounts to small companies, he said they will try to make sure the debt is paid off soon.
FENAKA: MVR 4.1 billion
STELCO: MVR 3.7 billion
MWSC: 1.4 billion
WAMCO: 226 million
Firzul said they would also prioritize finishing ongoing projects by the deadline. He pointed out that non-completion of projects on time increases the cost of the projects and the burden is borne by the companies.
He also pointed out that companies hiring more staff than they require was also a problem they face. This issue was the worst in FENAKA, the company that provides water and sewerage facilities in most islands within Maldives.
In 2018, the number of employees at FENAKA was 2,000. At present, the staff number has gone up to 8,000. The increase has been the highest since March this year.
Firzul said that even if there are more employees than required, it is not within President Elect Dr. Mohamed Muizzu’s policies to reduce the number of employees. This issue will be addressed after he is sworn in, and they conduct and a human resources audit within the company.
“We have things we hope for in front of us. We have the full trust [of the people] to face the obstacles and bring changes the citizens wish,” Firuzul said.
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