Azaan Questions HDC Policies on Concessions and Transparency

During a Public Accounts Committee session, Member for Hithadhoo Central Constituency Ahmed Azaan raised critical questions about the Housing Development Corporation (HDC) and its policies under Managing Director Fazul Rasheed. Azaan scrutinized HDC’s handling of rent concessions for businesses and discrepancies in decision-making between the board and management.

Azaan pointed out instances where concessions were granted by management for amounts as high as MVR 69 million and MVR 11 million, bypassing board approval. Fazul clarified that while management has authority to waive fines or extend deadlines for amounts up to MVR 200,000, larger amounts are referred to the board. He attributed the confusion to administrative errors in documenting endorsements, which Azaan challenged, emphasizing the gravity of providing inaccurate information to the committee. Azaan requested HDC to rectify and resubmit its reports.

The session also addressed complaints about post-bidding project modifications and rent-setting practices. Fazul explained that requests for changes in project usage often arise due to business needs, such as shifting to a pharmacy operation for better market feasibility.

Additionally, Azaan questioned Fazul about the non-disclosure of his financial statement, urging transparency to avoid corruption allegations. Fazul acknowledged not submitting his financial statement to the Public Company Board (PCB) by the required January 31 deadline.

Azaan expressed broader concerns about the fairness of HDC’s concessions policy, noting that small businesses often face stricter enforcement, while large companies with overdue payments are granted more favorable terms.