The government has decided to increase its shareholding in the Maldives Transport and Contracting Company (MTCC).

Speaking at a press conference held at the President's Office today, President Dr. Mohamed Muizzu announced the decision to dissolve the Road Development Corporation (RDC) and merge it with the Maldives Transport and Contracting Company (MTCC).

The President noted that RDC primarily focuses on road construction, whereas MTCC handles road development alongside various other infrastructure projects. He emphasized that the overlap in operations between the two state enterprises has led to significant unnecessary expenditure.

"This change is being brought to deliver infrastructure projects through a more efficient system. Therefore, RDC will be dissolved and integrated into MTCC, while the government's stake in MTCC will be increased to ensure direct benefits to the public," the President said.

The President added that achieving operational efficiency through this merger will allow the government to rightsize the workforce. He explained that as RDC merges with MTCC, and Fenaka merges with STELCO alongside changes at MWSC, overall staff numbers across state-owned enterprises will be downsized to establish a leaner, more robust, and efficient administrative system.