The Ministry of Finance and Planning has confirmed the removal of Hamdhy Ageel from his position as President of the Board of the Privatization Corporatization Board (PCB). The Ministry did not disclose any further details regarding the dismissal.
Appointed to the PCB on 22 November 2023, Ageel's removal coincides with the administration’s efforts to enhance the governance and management of government-owned companies.
The administration has been implementing comprehensive cost-cutting measures and management reforms aimed at strengthening the operational structures of government-owned entities. These measures reflect a commitment to improving efficiency and accountability within these organisations, according to the government.
The PCB is a seven-member body established under the 'Law of Privatisation, Corporatisation, Monitoring, and Evaluation of Government Businesses.'. It oversees and implements the privatisation and corporatisation of government-owned businesses in the Maldives, ensuring efficient processes, approving procedures, and maintaining good governance.