Cabinet discusses reforming government-owned companies

The cabinet has deliberated on reforming government-owned companies and companies with majority government share, to increase profits.

The President’s Office said that at the cabinet meeting held today, discussions were also held on grading the companies based on their profit generated, and the dividends paid to the government.

The cabinet discussions were held on a white paper presented by the President’s Office.

Speaking at an event last night, President Yameen said that the government plans to ‘interfere’ with the management of government-owned companies, to ensure efficiency.

He said that Managing Directors would be replaced if the companies fail to progress and provide services in line with the government’s vision.