HDC wage bill hits record high following pre-election hiring spree

Aug 8, 2026, 2:18 PM
HDC Managing Director Zuhair and Deputy Managing Director Asbah

HDC Managing Director Zuhair and Deputy Managing Director Asbah

Housing Development Corporation (HDC) has increased its workforce in conjunction with this year’s local council elections, leading to record-breaking expenditures on salaries and benefits.

Statistics obtained by Adhadhu through the Right to Information Act reveal a substantial surge in both staff numbers and operational costs at HDC this year. Hundreds of new employees were recruited to the corporation ahead of the council elections held on April 4.

While the People’s National Congress (PNC) heavily criticized the previous administration while in opposition, alleging the illicit hiring of staff and excessive spending within state-owned enterprises, HDC’s workforce has grown even larger under their governance compared to the MDP administration.

According to data provided by HDC, the corporation had a total of 2,141 employees in November 2023. However, by the end of June 2026, that figure had climbed to 2,410.

The expansion of the workforce has driven spending on salaries and benefits to unprecedented levels. In November 2023, the monthly wage bill stood at MVR 32.7 million. By June 2026, HDC’s expenditure on salaries and benefits alone reached MVR 40.8 million.

Looking at annual figures, HDC spent a total of MVR 339.5 million on salaries and benefits in 2023. This figure rose to MVR 400.1 million in 2024. In the first six months of 2026 alone, MVR 229.8 million has already been spent on payroll, averaging MVR 38.3 million per month. This represents a monthly increase of over MVR 10 million compared to 2023 levels.

The Privatization and Corporatization Board (PCB) has recently mandated state-owned enterprises to reduce their staff numbers by 33 percent. If HDC were to comply with this directive, it would necessitate the dismissal of 795 employees, bringing the total workforce down to approximately 1,600.

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