Ghassan Warns Against Selling State Companies' Shares for Quick Money

Vice President of Progressive Party of Maldives (PPM) and parliament representative for Guraidhoo constituency Ghassan Maumoon has warned against selling shares of state-owned enterprises.

Ghassan tweeted on Thursday that Maldivian citizens are the true owners of state property and government companies. He advised against selling shares of the citizens' companies and property for quick money to meet ends after unjustified excessive spending in the current situation.

The Public Enterprise Quarterly Review published by the Privatization and Corporatization Board (PCB) shows that several companies are financially compromised. The government has been attempting to sell shares of some companies.

This year's budget also mentions revenue will be obtained through selling shares of state companies. However, no shares have been sold so far.

It is noteworthy that during former President Nasheed's tenure, shares of Maldives Water and Sewerage Company (MWSC) and Dhiraagu have been sold to foreign entities. Velana International Airport was also assigned to India's GMR for a small sum of money.