RDC chief Nazeem removed, operations handed over to MTCC
The board also confirmed that responsibility for managing RDC had been assigned to Saudee on the same day.
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Ibrahim Nazeem has been removed as Managing Director of Road Development Corporation (RDC), with responsibility for the company's operations transferred to Maldives Transport and Contracting Company (MTCC) Managing Director Ahmed Saudee.
The Privatisation and Corporatisation Board (PCB) confirmed that Nazeem was removed from his positions as Managing Director and board member of RDC on Wednesday.
The board also confirmed that responsibility for managing RDC had been assigned to Saudee on the same day.
The changes follow a Cabinet decision to dissolve RDC and transfer its operations to MTCC as part of the government's restructuring of state-owned enterprises.
Under the restructuring, road construction projects previously undertaken by RDC will be transferred to MTCC, which is already involved in several road development projects across the Maldives.
The government has said the consolidation is intended to reduce public expenditure and improve the management and operational efficiency of state-owned companies.
The changes also include the dissolution of Fenaka Corporation, with State Electric Company (STELCO) assuming responsibility for electricity services on islands currently served by Fenaka.
On Wednesday, the PCB also removed Mohamed Hussain Afeef from his position as Managing Director of Fenaka Corporation.
The restructuring forms part of the government's efforts to consolidate the operations of state-owned enterprises and reduce the costs associated with maintaining separate companies.
