Survey commence prior to SOE privatization

Finance Ministry’s Chief Financial Budget Executive Mr. Ahmed Saruvash

Ministry of Finance on Monday, 14 June, reported commencement of their survey as a prerequisite to privatizing state-owned enterprises.

Speaking on this regard, the ministry’s Chief Financial Budget Executive Ahmed Saruvash commented their probe to assess possibility of privatization in SOEs.

“We do not have any plans of excluding a specific corporation from privatization. In fact we are assessing the options on privatizing said corporations,” Saruvash commented.

Moreover, Mr. Saruvash noted their assessment will not conclude in a privatization effort specifically in 2021.

Furthermore, he adds that the current survey is part of a three-year plan, with plans of privatizing specific corporations per year.

The ministry’s Chief Financial Budget Executive further notes that the cabinet will be responsible of approving corporations to privatize following the conclusion to the assessment.

Meanwhile local privatization board estimates receipt of over MVR2 billion through a privatization effort focused towards state-owned enterprises.