Government offices and SOEs owe MVR 661 million to STELCO

Aug 11, 2025, 3:57 AM
President's Office. -- Photo: Hussain Waheed/ Adhadhu

President's Office. -- Photo: Hussain Waheed/ Adhadhu

Credible sources have said government offices and state-owned enterprises (SOEs) owe MVR 661 million to State Electric Company (STELCO).

Sources told Adhadhu that the pending amount has reached MVR 661,609, 624. This amount is due for unpaid electricity bills.

Some SOEs, including state broadcaster Public Service Media (PSM), owe millions.

Adhadhu understands that the government has stopped paying subsidy to STELCO as well. But the company bills the public at a subsidized rate.

Meanwhile, the frequent power outages in Male' are also caused as a result of this financial issue facing STELCO.

Adhadhu spoke to STELCO officials, government officials and experts who agreed that failure to fill up the tanks were causing the power outages.

Currently, STELCO refuels the tanks on a daily basis. This does not give the oil particles the time to settle at the bottom of the tanks. The power outage occurs because the particles block the filters and fuel does not reach the generator.

STELCO is forced to refuel its tanks daily due to insufficient fuel. State Trading Organization (STO) supplies fuel in limited quantities because of unpaid bills. STELCO cannot pay the bills because the government does not pay subsidies and government agencies do not pay electricity bills.

A criminal investigation is underway in connection with the five-hour power outage in the Male' region on June 1. The region experienced a two-hour power cut on Saturday as well.

The investigation was launched on the orders of President Mohamed Muizzu, but police have so far only collected preliminary findings and information on the case.

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