Govt flags delay in World Bank project over pending Fenaka audits
The matter was brought to light in a letter sent by the ministry to Fenaka Corporation, which was tabled at the Parliament’s Finance Committee.
The Ministry of Environment has raised concerns regarding the delay of a foreign-aided electricity project due to the pending audit of Fenaka Corporation’s financial statements for 2022 and 2023.
The matter was brought to light in a letter sent by the ministry to Fenaka Corporation, which was tabled at the Parliament’s Finance Committee meeting held Sunday. The letter stated that the lack of completed audit reports is hindering the government’s efforts to improve electricity services and reduce related expenditures.
Committee Chair and Eydhafushi MP Ahmed Saleem of the People’s National Congress (PNC) said multiple issues involving Fenaka had been discussed at previous committee meetings. He stated that the delay in audit completion is affecting access to international aid.
“The failure to complete the audits has stopped the receipt of assistance from international agencies,” Saleem said.
Hanimaadhoo MP Abdul Ghafoor of the Maldivian Democratic Party (MDP) said the government must prioritise auditing Fenaka. He criticised the lack of audit reports over nearly two years and has called for the Managing Director of Fenaka to appear before the committee for clarification.
Deputy Speaker and Dhiggaru MP Ahmed Nazim noted that the Ministry of Environment had indicated a World Bank-funded project in Gaafu Alif and Gaafu Dhaal atolls had been suspended due to the pending audits.
Kelaa MP Abdulla Shareef of the PNC claimed documents from previous administrations may have been destroyed or withheld. He said the absence of documentation has hindered the audit process.
“The way things were done in the past is that there are no documents. They destroyed everything, hid everything,” Shareef said.
Ghafoor added that audits could proceed by classifying undocumented transactions as invalid. He said no justification should delay the audit process.
The Finance Committee is continuing its discussions on the matter and is expected to summon relevant officials for further clarification.
