The Minister of Finance, Moosa Zameer, has announced that the government is working to facilitate MVR 700 million in funding to create private-sector opportunities for individuals affected by the ongoing workforce reductions in state-owned enterprises (SOEs). Following the President’s instructions, MVR 250 million of this total—to be disbursed through the SME Digital portal—has been earmarked for expedited release.
To enhance the operational efficiency of state-owned companies, the Privatization and Corporatization Board (PCB) has been directed to implement a 33 percent reduction in staff numbers and to strengthen merit-based recruitment frameworks. Furthermore, comprehensive measures have been introduced to curtail corporate expenditures, specifically targeting overtime pay and travel-related costs.
