Former Vice Chief appointed to helm MIFCO

The government has appointed Brigadier General (retired) Faruhath Shaheer as the new Managing Director and Chief Executive Officer (CEO) of Maldives Industrial Fisheries Company (MIFCO).

Shaheer has been appointed following the exit of the company’s first-ever foreign CEO Dr. Vitaliy Lyubimov.

Dr. Lyubimov, who was appointed to helm MIFCO three months back, was sacked from his position last Monday though no details about his dismissal had been provided by any relevant authority.

The watchdog of state-owned enterprises (SOEs), the Privatization and Corporatization Board (PCB) on Wednesday confirmed the appointment of Shaheer as MIFCO’s newest CEO.

Shaheer was the Vice Chief during former President Mohamed Nasheed’s administration, after which he was formally retired on February 29, 2012 during the presidency of Dr. Mohamed Waheed Hassan Manik.

Post exit from his military career, Shaheer was next seen at the helm of Indira Gandhi Memorial Hospital (IGMH) during former President Abdulla Yameen Abdul Gayoom’s administration.

Shaheer is the latest of the retired military men to take charge of a state-owned entity.

The outgoing foreign CEO was appointed to MIFCO upon the state’s request, and immediately following his appointment, Lyubimov affirmed he would deter all attempts of political influence on the corporation. He also assured of disclosing information of any individual attempting to politically coerce the company.

While MIFCO has long since been running at a loss, President Dr. Mohamed Muizzu earlier declared he go to the root of the corruption within the company and eliminate it, and had previously stated he appointed a foreign CEO towards this goal as well.