Broadcom's efforts to recover payments inadequate: AGO

The Maldives Broadcasting Commission, or Broadcom, is under scrutiny for not doing enough to retrieve over MVR 24 million that is owed to it, according to a recently released 2021 compliance audit report by the Auditor General's Office (AGO).

As of 2021, the outstanding amount owed to Broadcom stands at MVR 24.73 million, which includes rebroadcasting license fees, broadcasting license fees, frequency fees, and penalties. The audit report has revealed that some of these fees and penalties have been outstanding for more than three years. The report highlights that despite the considerable amount of time that has elapsed, the commission has still not collected a significant portion of the money owed to it.

Outstanding payments to Broadcom

Rebroadcasting License Fee - MVR 6,396,319
Rebroadcasting license fee penalty - MVR 5,585,288
Broadcasting License Fee - MVR 3,236,400
Broadcasting License Fee Penalty - MVR 3,690,630
Frequency License Fee - MVR 5,806,6671
Frequency License Fee Penalty - MVR 18,689

The audit report warns that the failure of the commission to recover the revenue due could result in the state incurring financial losses. The report urges the commission to take necessary measures to expedite the recovery of the funds owed and comply with the Public Finance Act.