Finance Minister Moosa Zareer stated in the People’s Majlis that the downsizing of State-Owned Enterprises (SOEs) to reduce expenditures will be conducted without regard for political affiliation and in a manner that safeguards the rights of citizens. The Minister highlighted that employees being let go will receive redundancy packages based on their years of service, and further opportunities will be provided through a 600 million Rufiyaa SME fund titled “Kumevi” to assist those wishing to start private businesses. Emphasizing the necessity of rightsizing these companies to strengthen the economy, the Minister shared statistics showing that the number of SOE employees has surged from 18,676 in 2018 to 41,667 at present.
