Government appoints two directors to MTDC

The government has appointed to directors to the Maldives Tourism Development Corporation, nearly two months after its work had come to a halt.

A senior official of MTDC said that the Ministry of Finance informed on Thursday that it had appointed two out of the four directors of MTDC to be appointed by the government.

The two new directors are former Assistant Manager of MTDC Hussain Alim Shukoor and Ali Azim, said the official.

He said that with the appointment of the two directors, the quorum requirement of the Board of Directors of the corporation can now be met, and its work can be resumed.

He said that the Board of Directors will appoint a Managing Director and a Chairman at the next meeting, and that they will work on releasing the quarter report as soon as possible.

MTDC has been fined MVR 30,000 by the Capital Market Development Authority (CMDA) after it failed to meet the deadline to release the quarter report.