Hithadhoo Port Limited operating on loss since 2009: audit report

Addu City's Hithadhoo Port Limited posted a loss of MVR 85 million by the end of 2020, according to an audit report.

The financial audit of Hithadhoo Port Limited for the year 2020 shows the port has posted losses every year since its establishment in 2009. The audit report noted that it was difficult to identify the company's financial direction, citing the lack of assessment as a reason. The report also noted that the amount of tax payable to the Maldives Inland Revenue Authority (MIRA) is also uncertain due to poor financial management.

Hithadhoo Port Limited is operated by Maldives Ports Limited (MPL). The port was developed with a loan from the Asian Development Bank and opened in July 2009 as the main hub of the south. This is one of the three ports operating outside of Male' City.