Privatizing government companies will begin this year: Minister Ameer

Minister of Finance Ibrahim Ameer | Photo: Ministry of Finance

Malé, Maldives — Finance Minister of Maldives, Ibrahim Ameer has stated that the government aims to begin the program to privatize government companies before the end of 2021.

The government decided to privatize some government companies to gain more income this year. Through this process, the government is expected to receive approximately MVR 460 million by selling shares this year.

Minister Ameer spoke to local media outlet “Adhadhu” and revealed that they have already finished the research for this program and are expecting to begin the program before this year ends.

Noting that the Ministry wants the program to go as transparent as possible, Minister Ameer stated that they are receiving help from experts to carry out the program.

We want it to be as transparent as possible, include all stakeholders and even a relevant foreign firm to carry out the program.

Finance Minister, Ibrahim Ameer.

Minister Ameer also responded the criticism the government received over privatizing the government companies and stated that the purpose of privatizing the companies is not to earn income for the state but because privatizing companies in other countries has also lead to more development and productive operations.