Companies with no major mandate were formed due to privatisation: President

President Dr Mohamed Waheed Hassan Manik has said that changes made to the government’s business policies over the years and privatisation of companies resulted in the creation of several new companies with no major mandate.

The President said this today during a meeting with senior officials of government-owned companies. He said that these government policies have now been reviewed, and necessary changes have been made.

The President noted that the companies are an essential part of the government, and said that the management of the government companies need to be strengthened.

In this regard, he stressed the importance of operating companies according to CMDA rules and regulations.

He also noted the role of the companies in providing basic public services to the people.

At today’s meeting, the officials of the companies shared with the President their concerns in relation to the management of the companies. They noted the importance of strengthening the business policies of the companies, and briefed the President on the efforts made in this regard.

The meeting was also attended by Vice President Mohamed Waheed Deen and Cabinet Ministers.