The President of the Privatization and Corporization Board PCB Hamdi Ageel has been dismissed from his post.
The reason for the dismissal remains unclear.
His dismissal comes after the PCB sent a circular to state-owned companies urging them not to give their employees other incentives except for the Ramadan allowance.
The PCB had also urged companies to take more cost-cutting measures.
Hamdee was appointed as the President of PCB back in November 2023.
He had filled the posts of Managing Director of Fuel Supply Maldives and Managing Director of Haj Corporation.
The Privatization and Corporatization Board (PCB) was established in 2013 under the Privatization, Corporatization, and Monitoring and Evaluation of State Companies Act.
While the President has the power to appoint the President of the board, the Parliament must also approve his selection.
