Ahmed Shaheer of Maafannu Laalubau has been appointed as the new chairman of Fenaka Corporation.

He was appointed as the chairman of the utility company last Thursday.

Shaheer had previously held the designation of Managing Director of the State Trading Organization STO and resigned from the company back in 2018 after 29 years of service at the company.

Shaheer will join former MP for Madaveli Constituency Muaz Mohamed Rasheed who was appointed as the Managing Director of Fenaka when this administration took over.

Fenaka Corporation, which provides utility services to the inner islands, is currently in a dire financial situation with a mountain of debt under its name.

This administration had said during the transition period that the corporation's debt reached MVR 4.1 billion and that out of that MVR 3.2 billion was unpaid bills to suppliers.