Fenaka Corporation has conducted a symposium for its employees to review and strengthen its procurement framework, ensuring alignment with the guidelines set by the Privatization and Corporatization Board (PCB). The session, attended by over 50 staff members, featured technical discussions focused on addressing existing procurement challenges and identifying effective solutions. This initiative follows a parliamentary resolution calling for the reform of Fenaka’s procurement policies and the investigation of irregularities highlighted in a recent audit report. The report revealed that between 2021 and 2023, contracts worth MVR 1.3 billion were awarded outside the standard public bidding process.
