MD: RDC’s debt at burdens at MVR 837 million when post assumed

Road Development Corporation (RDC)’s Managing Director Brigadier General (Retired) Ali Zuheyru states the company’s debt burden was at MVR 837 million when the current management took over the company.  

He made the remark while speaking at the Parliament’s Committee on State-Owned Enterprises (SOE).

RDC’s management was summoned to SOE Committee to be questioned regarding corruption within the company and the measures implemented by the new management to combat corruption.

Zuheyru noted the company’s debt burdens stood at MVR 837 million when the current management assumed office. However, he said MVR 152 million has been paid to various parties with the assistance of the government. Henceforth, the company’s debt burden has been reduced to MVR 685 million, he added.

Speaking further, Zuheyru said many foreign workers were recruited from abroad despite which they had remained idle without any work. He also stressed that many vehicles had been rented at huge rates.

Zuheyru emphasized that this increased the company’s expenses with MVR 15 million incurred per month to rent the vehicles alone.

Deputy Managing Director Mohamed Asbaah briefed the Committee on changes brought to the company operations. In this regard, he detailed that approval would need to be sought from two more individuals apart from the Chief Financial Officer (CFO) for financial transactions.

Additionally, Asbaah said some staff have been shifted to different departments over financial transactions that had been conducted in violation of the set policies. He assured that action would be taken against them.

RDC is the target of heavy corruption allegations. Police, on November 15, raided RDC offices and project sites in Male’ City and seized a large number of documents.

Anti-Corruption Commission (ACC) is also presently investigating corruption allegations against the company.

Most of these allegations are centered around former managing director of RDC, Moosa Ali Manik (Mookey).

RDC was incepted during former president Ibrahim Mohamed Solih’s administration.