Finance Ministry Orders 33% Staff Cuts Across SOEs After Election Setback

The Finance Ministry ordered a 33% staff cut across state-owned enterprises (SOEs) via the Privatisation and Corporatisation Board (PCB) to reduce costs and improve governance after political setbacks. The directive follows criticism of politically motivated hiring before local council elections. The move comes after voters rejected a government proposal for simultaneous elections, and the opposition MDP won all five mayoral races. President Muizzu subsequently reshuffled his cabinet, reducing ministries from 20 to 15 after 10 ministers resigned.

The Finance Ministry ordered a 33% staff cut across state-owned enterprises (SOEs) via the Privatisation and Corporatisation Board (PCB) to reduce costs and improve governance after political setbacks. The directive follows criticism of politically motivated hiring before local council elections. The move comes after voters rejected a government proposal for simultaneous elections, and the opposition MDP won all five mayoral races. President Muizzu subsequently reshuffled his cabinet, reducing ministries from 20 to 15 after 10 ministers resigned.

The Finance Ministry ordered a 33% staff cut across state-owned enterprises (SOEs) via the Privatisation and Corporatisation Board (PCB) to reduce costs and improve governance after political setbacks. The directive follows criticism of politically motivated hiring before local council elections. The move comes after voters rejected a government proposal for simultaneous elections, and the opposition MDP won all five mayoral races. President Muizzu subsequently reshuffled his cabinet, reducing ministries from 20 to 15 after 10 ministers resigned.

This story involves 1 source and may affect public understanding of staff cuts / soes.