PCB appoints new board members to FDC, Hajj Corporation, HDC and Island Aviation

The Privatization and Corporatization Board (PCB) has appointed new members to the boards of directors of four state-owned companies.

The PCB on Thursday appointed board members to the four companies: Fahi Dhiriulhun Corporation (FDC), Maldives Hajj Corporation, Housing Development Corporation (HDC) and Island Aviation Services Limited (IASL).

The appointees to the board are:

• Fahi Dhiriulhun Corporation: Abdulla Yameen, Ma. Shaheen / Male’ City 
• Maldives Hajj Corporation: Ahmed Mazin, G. Baani 
• Housing Development Corporation: Shahid Moosa, Fehivina / Dh. Bandidhoo 
• Island Aviation Services: Maaisha Ibrahim, Thikureethu / Dh. Kudahuvadhoo

The PCB also appointed members to the boards of three companies yesterday. They are the Business Centre Corporation (BCC), the Maldives Fund Management Corporation (MFMC) and the Maldives Industrial Fisheries Company (MIFCO).

The changes come as the government has ordered a 33 percent reduction in the number of employees in order to cut government spending. In line with the April order, companies were asked this month to complete the layoffs within the next three months.

According to the Ministry of Finance, about 42,000 employees work in Maldives’ state-owned companies. This is more than the country’s 30,000 civil servants. The government is taking these measures as part of economic reform efforts due to the increase in public debt.