Privatisation and Corporatisation Board (PCB) has advised to revise the business model of Maldives Tourism Development Corporation (MTDC).
Commenting on the financial report 2018, PCB said MTDC must review and revise the business model to further enhance the process of subleasing islands.
The business of the corporation is boosting with an increase in revenue, according to financial report. Highlighting concerns on the report, PCB noted the huge amount of money owed to Maldives Inland Revenue Authority (MIRA), adding the amount of money owed by other parties to MTDC are also relatively high.
MTDC was founded in 2006 to create the opportunity to bring the wealth garnered from the tourism industry to every citizen in Maldives.
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