MVR 4 Billion Spent on SOEs as of July

As of July, MVR 4 billion from the state budget has been spent on 23 state-owned enterprises (SOEs). Of this, MVR 1.4 billion was capital injections to 21 companies, with the highest being Fahi Dhiriulhun Corporation (MVR 380.4M), Fenaka Corporation (MVR 192M), Fund Management Corporation (MVR 190M), Road Development Corporation (MVR 119.6M), and Housing Development Corporation (MVR 85M). Additionally, MVR 2.8 billion was allocated for subsidies via SOEs, including MVR 1.2 billion to State Trading Organization for fuel and staples, MVR 597 million to Fenaka for power, and MVR 433 million to Housing Development Corporation for rent. A Ministry of Finance official stated the expenditure strains the budget, and the administration is taking steps to reduce costs, including liquidating and merging some companies.

As of July, MVR 4 billion from the state budget has been spent on 23 state-owned enterprises (SOEs). Of this, MVR 1.4 billion was capital injections to 21 companies, with the highest being Fahi Dhiriulhun Corporation (MVR 380.4M), Fenaka Corporation (MVR 192M), Fund Management Corporation (MVR 190M), Road Development Corporation (MVR 119.6M), and Housing Development Corporation (MVR 85M). Additionally, MVR 2.8 billion was allocated for subsidies via SOEs, including MVR 1.2 billion to State Trading Organization for fuel and staples, MVR 597 million to Fenaka for power, and MVR 433 million to Housing Development Corporation for rent. A Ministry of Finance official stated the expenditure strains the budget, and the administration is taking steps to reduce costs, including liquidating and merging some companies.

As of July, MVR 4 billion from the state budget has been spent on 23 state-owned enterprises (SOEs). Of this, MVR 1.4 billion was capital injections to 21 companies, with the highest being Fahi Dhiriulhun Corporation (MVR 380.4M), Fenaka Corporation (MVR 192M), Fund Management Corporation (MVR 190M), Road Development Corporation (MVR 119.6M), and Housing Development Corporation (MVR 85M). Additionally, MVR 2.8 billion was allocated for subsidies via SOEs, including MVR 1.2 billion to State Trading Organization for fuel and staples, MVR 597 million to Fenaka for power, and MVR 433 million to Housing Development Corporation for rent. A Ministry of Finance official stated the expenditure strains the budget, and the administration is taking steps to reduce costs, including liquidating and merging some companies.

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