President Dr. Mohamed Muizzu has announced that the government has initiated efforts to acquire majority shares in Dhiraagu and reclaim outstanding shares of the Male’ Water and Sewerage Company (MWSC). To enhance corporate governance and foster economic expansion, the Cabinet has decided to increase the government’s current 41.8 percent stake in Dhiraagu to 51 percent, thereby securing majority ownership. Furthermore, the government intends to repurchase the 20 percent stake in MWSC currently held by a foreign entity, aiming to transform it into a 100 percent state-owned enterprise.
