Govt to repurchase shares sold from Dhiraagu and MWSC

The government has decided to buy back the shares sold by Dhiraagu and the state-owned water company Male’ Water and Sewerage Company (MWSC).

President Dr. Mohamed Muizzu told a news conference on Monday that one of the most important decisions he has made is to increase the government’s stake in Dhiraagu to 51 percent.

The President said the shares were sold by the previous MDP government and that they are a major state asset. He said the move is being taken in the interest of the people.

“Therefore, the work of increasing the majority control of the government’s shares sold by Dhiraagu to 50 percent has now started. All the work required in this regard will be carried out at a fast pace,” President Dr. Mohamed Muizzu.

More details to follow…