The Parliament's Public Finance Committee has recommended that issues identified in a special audit of Fenaka Corporation be referred to the Anti-Corruption Commission (ACC) and the Maldives Police Service for investigation.

The recommendation was included in the committee's report following its review of a special audit examining Fenaka's procurement practices, financial management and accounting.

One of the key findings highlighted in the audit concerns contracts worth MVR 49 million awarded between 2021 and the end of 2023 to companies linked to a former Managing Director. The audit found that MVR 31 million had already been paid under the contracts. The committee recommended that the matter be investigated by the ACC and police, with progress reports submitted to the committee every two months until the investigation is concluded.

The committee also recommended investigations into alleged procurement irregularities, projects that resulted in financial losses, contracts awarded above market rates, purchases made without a tender process, generator procurement, and other projects involving the alleged misuse of company funds. It called for appropriate action against those found responsible and requested regular updates on the investigations.

The recommendations were approved after a motion submitted by PNC MP Mohamed Mamdhooh of Funadhoo was seconded by PNC MP Hanaan Mohamed Rasheed of Guraidhoo.

The Finance Committee has previously recommended referring findings from other special audits on Fenaka, including reports on the company's recruitment, promotions, salaries and allowances, as well as its Addu City branches and projects, to the relevant investigative authorities.