The government has decided not to sanction State Electric Company Stelco's planned housing project in Villimale.
The housing project was announced by the Managing Director of Stelco Ahmed Shareef at the meeting between Stelco Staff and the company's board members held last month.
Shareef had said that the company has planned to initiate a new housing project in Villimale and that it was in the process of seeking approval from the board.
He had added that once the bridge between Male' and Thilafushi is complete, there would not be any transport-related problems.
But Finance Minister Ibrahim Ameer said that the government's policy was to develop housing projects via Fahi Dhiriulhunn Corporation Ltd (FDC).
Minister Ameer reiterated that having State Owned Enterprises SOEs spearhead such projects was not the government's policy.
