Monday
6th May 2024
Dhivehi Edition
President Muizzu, in a cabinet meeting, photo: Presidents Office
The government has decided to set up another company like MTCC to speed up the stalled infrastructure development projects.
Principal Secretary to the President on Public Policy, Abdullah Nazim, told a news conference at the President's Office that the MTCC, which carries out government projects, has been under pressure and many projects have now come to a halt.
Therefore, the Finance Ministry has proposed to set up another company like MTCC to solve the problem, he said.
"There is a lot of work scheduled to be done by MTCC now. The number of projects is more than they can handle and the projects are too big," Nazim stated.
Nazim said the cabinet also decided to formulate policies to make state-owned companies profitable without having to spend on them.
He said the companies have been given a deadline of up to the first six months of next year to improve their operations and performance. If the performance does not improve after that, the Ministry of Finance will decide whether to restructure or liquidate the companies.