State Electric Company Limited (STELCO), Fenaka Corporation Limited, and Maldives Water and Sewage Company (MWSC), have announced the implementation of President Dr. Mohamed Muizzu's decision to exempt penalties on longstanding non-payment of electricity and water bills, effective from April 1, 2024.
President Muizzu made this decision on March 24, aiming to alleviate financial burdens on the public and improve their financial situation under the current administration.
Managing Director of MWSC Abdul Matheen Mohamed confirmed the exemption of penalties on water bills until the year 2023. Regardless of whether bills are paid intermittently or in full, penalties will be waived, amounting to USD 1.1 million for water bills and USD 2.91 million for outstanding electricity bills.
In addition, Managing Director of Fenaka Corporation Muaz Mohamed Rasheed stated that the implementation of waiving penalties is underway, aimed at assisting the company in recovering funds while offering convenience to customers.
Moreover, Managing Director of STELCO Hussain Fahumy clarified that penalties will only be waived for domestic customers' bills, applied to longstanding bills not cleared by January 1, 2024.
President Dr. Mohamed Muizzu's initiatives align with efforts to revitalise the Maldivian economy and prioritize public needs. Current endeavors include implementing policies to provide convenience during the Holy month of Ramadan.