Maldives Airports Company Limited (MACL) has paid salaries in dollars despite an order from the Privatization and Corporatization Board (PCB) to stop paying dollar-denominated salaries.
The board issued a circular on September 3 ordering government companies and their subsidiaries to reduce costs. The circular, which mentioned several measures, ordered companies to cut expenses on travel, employees as well as general costs.
The fourth measure stated by PCB was stopping dollar-denominated salaries in state-owned enterprises earning revenue in dollars. The only SOE that pays employees in dollars is MACL.
MACL employees were paid their monthly salaries on Sunday. Several employees who spoke to Adhadhu said that half of their salaries were paid in dollars which is the usual norm.
According to the latest PCB figures, MACL has a total of 4,264 employees. The company did not disclose the reason for not complying with the PCB order to reduce costs.
The PCB's order comes amid a severe shortage of foreign currency in the country. The national bank, Bank of Maldives (BML), recently decided to cut off dollar support to Rufiyaa accounts.
However, the decision was later reversed after consultations with the government and the central bank, Maldives Monetary Authority (MMA). The MMA's usable dollar reserves have also fallen to a record low.
