Fenaka, in deep debt, set to buy large number of generator spare parts

Fenaka Corporation, which is currently knee deep in debt due to years of corruption and mismanagement, is seeking to buy a large number of generator spare parts.

Each Fenaka audit uncovers a new corruption, and this has been the case in both former president Abulla Yameen Abdul Gayyoom’s administration and former president Ibrahim Mohamed Solih’s administration.

There have been multiple instances of corruption in the procurement of generators and related parts. In this regard, an audit of Fenaka from the last MDP administration shows that two used generators valued at MVR 2 million each, were purchased for MVR 17 million.

There have been corruption allegations against Fenaka in the incumbent administration as well.

Amidst these issues, Fenaka, on Thursday, made an announcement seeking to procure a large number of spare parts for generators. In this regard, Fenaka is searching for spare parts for 1,800 kilowatts, 1,000 kilowatts, 800 kilowatts, 600 kilowatts, 400 kilowatts, 250 kilowatts and 200 kilowatts generators.

Also on Thursday, Fenaka made an announcement seeking a contractor to transport diesel for generators from the harbor to the branch and to handle tank refilling.

Notably, the electricity service provided by Fenaka in many islands, including Addu City, is below par, with islands often reporting frequent power interruptions.

Fenaka has long been used by whichever ruling party at that time to channel illicit benefits to government leaders, lawmakers, and other senior officials. A special audit revealed that during the MDP administration, contracts worth MVR 1.4 billion were awarded without a competitive bidding process.

Ahmed Saeed, former Fenaka Managing Director who was convicted on corruption charges, is presently serving a prison sentence. However, many who had gained undue benefits via the company remain free.