The Cabinet has decided to begin work to reclaim Dhiraagu’s majority stake and 100 percent of shares in Male’ Water and Sewerage Company (MWSC) back to the government. President Dr Mohamed Muizzu formally announced this today.
In remarks linked to the decision, the President noted that these shares previously sold by successive governments are highly valuable and important state assets. Bringing those shares back under government control will ensure Maldivians receive their full benefit.
Dhiraagu is the country’s largest telecommunications company, while MWSC is the main company providing essential water and sewerage services to the public. He said keeping majority stakes in both companies under government control is therefore highly necessary from a national and economic standpoint.
With this important decision, relevant government agencies have already begun all administrative and legal work needed to reclaim the shares of both companies. The government’s aim is to strengthen state management and safeguard the people’s assets and shares.
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