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President Dr Mohamed Muizzu says the government has begun efforts to increase its stake in Dhiraagu and buy back shares in MWSC sold by the previous administration.
Mariyam Adheela
Male’: President Dr Mohamed Muizzu has announced that the government is working to regain shares in Dhiraagu and Maldives Water and Sewerage Company (MWSC) that were sold under the previous administration.
Speaking at a meeting with journalists at the President’s Office today, Muizzu said the government has decided to increase its ownership of Dhiraagu to 51 percent, describing the company as an important national asset.
He said discussions and preparations are already underway to acquire the additional shares, with administrative, legal and financial work being carried out as part of the process.
Muizzu also said the government has started work to buy back the 20 percent stake in MWSC that was sold to a foreign company. He said the aim is to restore the company to full government ownership and strengthen its services to the public.
The President said both processes are being pursued at a fast pace and expressed confidence that they can be completed successfully. He said regaining control of the companies is important for protecting public interests and strengthening the national economy.
