Employees safe despite MRDC dissolving; MD

Managing Director of Maldives Road Development Corporation (MRDC) has assured the company employees will be safe despite the executive decision to dissolve the development-based corporation.

MD Hamdhee Ageel met with the company's employees on Monday night following news of the company's apparent closure making headlines in local media. MRDC employees had expressed their concern on the sudden move to dissolve the corporation - fearing lay-offs.

Ageel had assured the staffs that both Housing Ministry and Finance Ministry had met with MRDC executives over the matter and guaranteed the employees will not face lay-offs. He also asserted that apart from media speculation and rumors, an official statement on the matter has yet to be declared by the state.

"Will share the details of the issue once it becomes a decision becomes certain. Any change to the company [MRDC] or its closure is at the hands of the state but I can assure that the employees will not face any repercussions of due to the change. Despite the company facing an apparent closure, its work will continue under a new management while retaining the employees," Ageel said during his meeting with the company staffs.

A confidante to Avas Online had assured that the decision for 'discontinuing' the entire MRDC operations was derived on Sunday through a policy-level meeting. The source had also asserted the decision comes with the recommendation of incumbent President Abdulla Yameen Abdul Gayoom.

The corporate decision will be announced on Thursday while all the tangible assets along with its personnel will be transferred under Housing Ministry's Public Works section.

Avas Online contacted to a senior level official of Finance Ministry to extract a viable response to closure of MRDC to which the officer had refrained from giving an official statement on the matter however did not disagree to the query regarding MRDC's asset transfer under Housing Ministry. The official had vaguely remarked the details of the matter cannot be discussed at the time.

Meanwhile attempts made to reach any officer of MRDC had not been successful, in order to derive a definitive response to the news.

While the exact nature for government moving ahead in 'disbanding' the development-related company is unclear, some trusted sources had explained state reasoning for the losses incurred to the corporation annually.

State has apparently decided to transfer the personnel and tangible assets of MRDC to cut the administration and management cost of running a separate entity, by having it operate under Housing Ministry.

Meanwhile Housing Ministry had formulated a construction oversight board responsible for bringing considerable administrative and developmental changes to the field, as well as in correlation to the Building Construction Act.