MMA’s governor Ahmed Naseer have said that a legislation is required to protect the sovereign fund of the Maldives.
Speaking to the members of the budget committee at the parliament today, Naseer said that the fund has 100 million dollars and a legislation is needed to protect that money.
“Now the money is being deposited to the custodian account of MMA. Since we do not have a legislation a governing council was formed by Finance and MMA. We are talking about how to invest this money” said Naseer.
In addition he said that technical people should be appointed to govern state owned companies and they should run on a business model rather than depending on the state budget.
Speaking about the forecasted budget, Naseer said that the state owned companies should be managed under a corporate structure.
