Afeef revealing some details of Fenaka's current state
Mohamed Afeef, newly appointed Managing Director of Fenaka, has revealed major issues of corruption and inefficiency. He stated that capacity generation and distribution have not been expanded as needed, and procurement is problematic. An Audit Office report showed Fenaka spent MVR 2.2 billion from 2021 to 2023, with MVR 1.3 billion awarded to unsuitable companies. 41 projects remain unfinished, requiring over MVR 2 billion to complete. Spare parts for generators were acquired from ordinary third-party companies rather than authorized distributors. Afeef noted that some suppliers are 'paper companies' with no local presence.
Mohamed Afeef, newly appointed Managing Director of Fenaka, has revealed major issues of corruption and inefficiency. He stated that capacity generation and distribution have not been expanded as needed, and procurement is problematic. An Audit Office report showed Fenaka spent MVR 2.2 billion from 2021 to 2023, with MVR 1.3 billion awarded to unsuitable companies. 41 projects remain unfinished, requiring over MVR 2 billion to complete. Spare parts for generators were acquired from ordinary third-party companies rather than authorized distributors. Afeef noted that some suppliers are 'paper companies' with no local presence.
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Mohamed Afeef, newly appointed Managing Director of Fenaka, has revealed major issues of corruption and inefficiency. He stated that capacity generation and distribution have not been expanded as needed, and procurement is problematic. An Audit Office report showed Fenaka spent MVR 2.2 billion from 2021 to 2023, with MVR 1.3 billion awarded to unsuitable companies. 41 projects remain unfinished, requiring over MVR 2 billion to complete. Spare parts for generators were acquired from ordinary third-party companies rather than authorized distributors. Afeef noted that some suppliers are 'paper companies' with no local presence.
This story involves 1 source and may affect public understanding of state-owned enterprises / corruption.
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Focus: Afeef revealing some details of Fenaka's current state
Unique detail: Afeef revealing some details of Fenaka's current state
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