Maldives Ports Limited (MPL) CEO Mohamed Junaid says the company suffers an annual loss of MVR 10 million from the fuel supplied by Meridium Services.
Junaid made the statement speaking in the press conference held on the Civil Court's temporary injunction ordering Maldives Ports Limited (MPL) not to contract their fuel supply needs to any company other than Meridium Services. In today's press conference, Junaid said the company needs 60,000 liters of fuel every month, but had been provided an average of 16,000 liters.
"We contracted the service in April 2015. Our statistics show that we needed 60,000 liters but they supplied only 16,000 liters. Based on MVR 12 rate, we sustain a loss of MVR 1.2 million," Junaid said.
He said the supplies were transported late in the night, adding the supply vehicles regularly entered MPL, providing fuel at their discretion. He added most of the MPL fleet was damaged but the amount of fuel needed had not decreased.
Measures to strenghten fuel transfer
Junaid said MPL had initiated measures to mitigate losses when transferring fuel from Meridium vehicle.
"We have a tanker in the area, all fuel have to be pumped into it. The vessels will be filled from there. With the change, we've been able to save MVR 1.2 million," Junaid said.
He said the company's legal team will be appealing the temporary injunction.
