Committee Meeting - People's Majlis of Maldives

Summary

In today's meeting, the Committee met with representatives from Fenaka Corporation Limited regarding the company’s Special review report submitted by PCB for the year 2022 and the current electricity issues faced by Addu City.

In this regard, the management of Fenaka Corporation informed the committee that they are actively working on and implementing reforms based on the recommendations given by the Privatization and Corporatization Board. The company is currently reviewing its human resource policy, salary structure, and procurement policy, with the process expected to be completed by January 2026.

In addition to that they also noted that discussions are ongoing with suppliers to install 5 generators of 6 megawatts each, with a total capacity to produce 13 megawatts of electricity to permanently solve the electricity issue in Addu City. They also mentioned that works are ongoing to produce 30 megawatts of electricity in Addu City, and the project is anticipated to be finished within one and half years.

Fenaka Corporation Limited's meeting participants: