Managing Director of Maldives Marketing and Public Relations Corporation (MMPRC), Thoyyib Mohamed has revealed that the corporation is seeking to recover US$ 14 million in funds owed to them by three different companies through court.
Speaking at the parliament's public finance committee on Tuesday, Thoyyib said MMPRC was informed through a letter dated 9th December 2015 that the government had removed the leasing of islands and lagoos from their mandate and transferred the responsibility to the Tourism Ministry.
"We were informed that the Tourism Ministry will be responsible from that point on for all the dealings regarding the leasing of islands and lagoons. Therefore, if there are any funds that is owed to MMPRC [over the leasing of islands], it is the tourism ministry that wiill undertake efforts to recover it", said Thoyyib.
However, the government-owned corporation is working on recovering funds that were given to companies as loans, and the proceedings are now ongoing in court, said Thoyyib.
The three companies include SOF Pvt Ltd, the private company implicated in the embezzlement of millions in state funds. While MMPRC is seeking US$ 10.7 million from SOF, they are also trying to recover US$ 2.5 from Millenium Capital Management Pvt Ltd, and US$ 1.47 million from Montline Intelligence International Pvt Ltd.
Parliament's Public Finance Committee
