SOE workforce estimated at 42,000, says finance minister

Minister of Finance and Public Enterprises Moosa Zameer has stated that the total workforce across State-Owned Enterprises (SOEs) is estimated at around 42,000 employees.

The statement follows a directive issued by the Ministry of Finance to the Privatisation and Corporatisation Board (PCB), calling for a 33 per cent reduction in SOE staffing and the introduction of merit-based recruitment practices.

Responding to questions on current staffing levels, Zameer said the figure is an estimate, with detailed data held by individual companies.

“SOEs are entities where hiring and dismissal take place on an ongoing basis. Our estimate is 42,000 positions. The companies manage their own records, but this remains our projection,” he said.

The Minister noted that the reduction target may not apply uniformly across all enterprises, depending on operational requirements.

“For example, Island Aviation Services. A reduction at that level would affect its operations,” he said.

Zameer added that any reduction in staff must be carried out in accordance with employment laws and with consideration of operational needs.

“We are mindful of the impact this may have on citizens,” he said.

The Ministry’s directive to the PCB outlines measures to revise recruitment systems, requiring appointments to be based on education, skills and competence. It also calls for implementation and monitoring mechanisms, as well as regular reporting on progress.

According to the Ministry, these measures are intended to align SOE operations with fiscal and administrative policies.