Candidates for the Privatization Board decided

President Dr. Mohamed Waheed Hassan Manik has decided on candidates for the Privatization and Co-privatization Board, the oversight body mandated by the State Business Privatization Act to monitor and evaluate privatization and co-privatization of State owned enterprises.

Sun has come to know that the President intends to propose the names of Mohamed Amjad, one of the directors of Nalahiya Hotel, along with Abdul Shafeeu, Hassan Ibrahim, Ali Faaris, Deputy Solicitor General Ahmed Usham, Ahmed Afrah and Mohamed Yasir, to be appointed to the Privatization and Co-privatization Board.

Massood Imad, Media Secretary at the President’s Office said today that the office is currently in the process of evaluating the names of the candidates.

The State Business Privatization Act states that the Board shall consist of a total of 7 members including a president and vice president and that President shall ask the parliament for their approval of the names before the president can appoint them to the board.

Ahmed Mohamed, Secretary General of the Parliament however said the President has not yet proposed any candidates for the parliament’s consideration.

A parliament committee is now reviewing the allocation of salaries for the members of the Privatization and Co-privatization Board.

President Dr. Mohamed Waheed Hassan Manik wrote to the Speaker of the Parliament Abdulla Shahid proposing an amount of MVR 47,000 for the President of the board, which includes MVR 32,000 as salary and MVR 15,000 in allowances, and MVR 35,500 for the Vice President of the board, which includes MVR 20,500 as salary and MVR 15,000 in allowances, and an amount of MVR 8000 in allowances for the remaining 5 members of the board.

Article 8 of the State business privatization law states that the salaries for the members of the board shall be allocated by the President, following counsel from the parliament. It also states that a single term for a board to be 4 consecutive years.

Excluding the president and vice president, the members of the board will consist of professionals from the fields of accounting and finance, banking, business administration, law, and economics.

The law also requires the professionals to hold qualifications above level 7 of the government classifications, in addition to a minimum of three years of experience.