Ex- govt accused of indebting HDC by MVR10 billion
"I would like to take this opportunity to announce that audits will be conducted and [those who have done this] in the past will be held accountable”.
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By
Fathmath Ahmed Shareef
Housing Development Corporation (HDC) Managing Director Ibrahim Fazul Rasheed has said that he will submit the matter to the Anti-Corruption Commission (ACC) to investigate the allegations that the previous government indebted the company by a staggering MVR 10 billion.
Fazul said this on Wednesday while speaking at a public meeting held in V.Felidhoo, accompanying the President on his visit to the atoll. Noting that HDC has had many detrimental transactions in the past five years, Fazul said the situation of HDC today is “not good”.
"The company's debt has reached MVR10 billion and there are people who have handled this debt or brought this debt to this point. Therefore, there are people who should be held responsible. Our audit reports are being prepared," Fazul said.
Fazul mentioned some such transactions conducted by HDC in the previous government:
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About 50 plots of land in Hulhumale have been given unfairly to various people on commercial basis; we are working to getting them back
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The company has not tried to recover about MVR 500 million owed to it in the last five years
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While flats were available from the Hiyaa and Vinares project, 375 people who were affected by the SeaLife scam were paid compensation with money
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The HDC has lost a huge amount of revenue as 35 plots of land in Thilafushi have been given to people illegally
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More than 50 projects have been awarded to companies without any regulations, causing further loss to the company
"I would like to take this opportunity to announce that audits will be conducted and [those who have done this] in the past will be held accountable”.
He said the government is working to get back the illegally given land from Hulhumale, and assured that it shall be done well within regulation.
