Mohamed Afeef, the third Managing Director to lead Fenaka Corporation under the current administration, was dismissed from his post today.
While his removal has been confirmed, the reasons behind the decision have not yet been disclosed.
Afeef’s predecessor, Mohamed Najah, was removed as part of a series of administrative changes following the government’s defeat in this year’s elections.
Afeef holds a Master’s degree in Shariah and has served the government for over 40 years in various capacities. Prior to his appointment at Fenaka, he served as the Chairman of MTCC.
His dismissal comes amid ongoing efforts to dissolve Fenaka Corporation. The process of transferring the utility services provided by the company to STELCO has not yet been finalised.
The government decided to dissolve Fenaka following the termination of a large number of employees. The opposition MDP has noted that the majority of those dismissed were affiliated with their party.
As part of broader measures to reduce state expenditure, the government has decided to cut the workforce of State-Owned Enterprises (SOEs) by 33 percent. These layoffs include experienced staff who have served the companies for many years.
