A decision has been made to convert the Male' Water and Sewerage Company (MWSC) into a 100 percent state-owned enterprise.

Speaking at a press conference held at the President's Office today, President Dr. Mohamed Muizzu stated that the government has decided and initiated efforts to repurchase MWSC shares previously sold to a foreign company during the MDP administration.

"This is crucial for our citizens. It is necessary for service delivery and for strengthening MWSC. Therefore, work has begun to buy back the 20 percent share sold to a foreign firm and convert MWSC into a 100 percent state-owned enterprise," the President said.

The President expressed confidence that the process will conclude smoothly and successfully. He added that alongside MWSC, the government has decided to acquire a 51 percent majority stake in Dhiraagu, reversing the sale made during MDP's first administration.

"One of the most important priorities is increasing the government's stake in Dhiraagu to 51 percent. Dhiraagu was originally a majority state-owned entity before shares were sold under MDP's first government. It is a major asset belonging to the public. Restoring a 51 percent majority stake is essential for the benefit of our citizens and for broadening and driving the nation's economy," he stated.