Former State Media, the Maldives National Broadcasting Corporation (MNBC) and Public Service Media (PSM) and had incurred a debt of MVR 200 million. PSM has said that the media company have begun paying back the debts.

The Managing Director of PSM, Ali Khalid, has informed One Online that some of the companies that PSM owes a debt to includes the State Trading Organization (STO) as well as STELCO.

He said that the company has begun paying back all the major amounts of the debt incurred. As such, he reported that amount MVR 30 million out of MVR 78 million owed to Business Image Group (BIG) has been paid.

The MD of PSM said that the payment of debt owed to BIG needs to be completed before the end of next year.

MNBC was ordered to pay MVR 78 million to BIG in the year 2016 by the court. The sentence declared that, as per an agreement reached in 2010 by both companies, a debt of MVR 5 million had been incurred by MNBC.

The sentence had reiterated that the amount had increased to MVR 78 million due to the outstanding original amount.