The Maldivian government has decided to liquidate two state-owned companies that have spent a combined total of MVR 42 million from the state budget.
During a Cabinet meeting held on Sunday, the decision was made to dissolve the Maldives Integrated Tourism Development Corporation (MITDC) and Agronet Corporation as part of a broader cost-cutting strategy.
According to the Finance Ministry, the government allocated MVR 33 million to Agronet and MVR 8.1 million to MITDC from the state budget upto June this year.
In the same meeting, the Cabinet also approved the merger of several government-owned companies to enhance management efficiency and reduce expenses. In this regard, Maldives Airports Company Limited (MACL) will be merged with Regional Airports Company Limited (RACL), and Fahi Dhiriulhun Corporation (FDC) with Housing Development Corporation (HDC).
