President reconstitutes Privatization Board

President Abdulla Yameen Abdul Gayoom has reconstituted the Privatization and Corporatization Board, the seven-member oversight body which deals with procedures for privatization, corporatization, evaluation and the monitoring of State businesses.

Mohamed Nizar, M Faizaa was appointed president of the board and Mohamed Yasir was appointed vice president of the board. Other members include; Hussain Ali Habeeb, Ali Wasif, Ashraf Ali, Aishath Shifala and Ahmed Imad.

The board consists of individual experts with backgrounds in accounting and finance, banking, business administration, law and economics. President’s Office said the names will soon be forwarded for parliament approval. The board has a four-year term.

A monthly salary and allowance of MVR 47,000 is allocated for the president of the board and a monthly salary and allowance of MVR 35,500 is allocated for the vice president of the board. The remaining five members work on a part-time basis and receive MVR 8,000 as a monthly allowance.