Corruption cases related to HDC to submitted to ACC

HDC's Managing Director Fazul Rasheed speaks at V. Felidhoo on March 6, 2024. (Sun Photo/Moosa Nadheem)

Housing Development Corporation (HDC)’s managing director Fazul Rasheed states corruption that had taken place within the company before the current administration took office will be submitted for investigation to the relevant authorities including the Anti-Corruption Commission (ACC).

He made the remark while speaking at V. Felidhoo on Wednesday night. He is accompanying President Dr. Mohamed Muizzu on his ongoing tour of the Maldivian atolls.

Fazul, noting HDC’s debt stood at MVR 10 billion when he took over the company, stressed that there are people who needs to take responsibility for this. He further stressed that no efforts had been undertaken over the past five years to recover approximately MVR 800 million owed to the company.

It is the former management of the company that needs to bear the responsibility for this, he said.

Fazul said audit reports regarding these matters were being formulated, adding they will be shared with the relevant authorities upon completion.

Fazul, speaking at PNC’s party centre gathering on Sunday, also accused the former administration of unjustly issuing approximately 50 land plots from Hulhumale’ under the ‘Binveriya’ scheme. In this regard, he said the people involved in the issuance of the land plots will be identified following which the information will be disclosed to the public.

Speaking at Felidhoo last night – Fazul said efforts were presently underway to repossess the land plots that were issued unjustly.

Fazul also alleges that 35 land plots have been unjustly issued from Thilafushi on a temporary basis.

“HDC will not permit construction at plots that have been issued for a one-year term. This permit has been given orally,” he noted.

This has led to the rights of businesses and the public being infringed, Fazul said.

He emphasized that these actions have resulted in huge losses to the company, adding efforts will be undertaken to legalize these matters in accordance with the regulations.

HDC is not the only state-owned company that has announced plans to submit corruption that have taken place within the company for investigation to ACC. In this regard, Fenaka Corporation made a similar announcement on Monday.