Despite the Privatization and Corporatization Board (PCB) ordering government companies to stop paying salaries in dollars, President Dr. Mohamed Muizzu has assured that employees of Maldives Airports Company Limited (MACL) will be paid in dollars.

In an internal memo signed by MACL Managing Director Ibrahim Shareef yesterday, the MD told employees that the President has assured him that there will be no change in the benefits, including paying one-half of the salary in dollars.

Shareef said many employees were raising questions about whether there could be a change in benefits, including the dollar-denominated salaries.

According to the memo, the President assured him during a discussion with him on the issue and the President also expressed appreciation for the work done by MACL employees.

The PCB 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.

However, MACL paid salaries in dollars at the start of October despite the PCB's order,

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. It is unclear whether it was done with the backing of the President.

The PCB's order comes amid a severe shortage of foreign currency in the country.