The decision by President Dr. Mohamed Muizzu to reform state-owned enterprises (SOEs) is a crucial step toward building a less wasteful and financially sustainable public service sector, stated Hussain Fahumy, Managing Director of Male' Water and Sewerage Company (MWSC).

During a press conference held at the President's Office yesterday, the President announced major changes to several public enterprises, including transitioning MWSC into a 100 percent state-owned entity, acquiring a 52 percent government stake in Dhiraagu, and dissolving both Fenaka Corporation and Road Development Corporation (RDC).

In a post on X today regarding the reforms, MWSC MD Fahumy highlighted that consolidating company operations under one roof, eliminating wasteful expenditure, and strengthening corporate governance are essential measures. He noted that reinforcing national strategic ownership will enable SOEs to focus on core priorities.

Furthermore, Fahumy stated that these changes will enhance corporate accountability and allow for the delivery of higher-quality services that best serve the Maldivian public.

He added that meaningful reform can only be achieved through difficult decisions and a firm commitment to execution, characterizing the government's reformative decisions as being driven by a clear purpose.