MTCC CEO Ibrahim Abdu Razzaaq Haleem has said that the state owned and partly state owned companies played a vital role in ensuring national development.
He made the statement speaking in the PPM-MDA led “Hopeful 2016” rally held in Alimas Carnival area.
Speaking in the rally, Ibrahim Abdu Razzaaq Haleem attributed this to the phenomenal growth achieved by China. He said that proper alliance between the state owned and partly state owned companies and the Government had fully empowered such companies and entities. He added that the companies became self-sufficient corporations after a while.
Ibrahim Abdu Razzaaq Haleem said that President Yameen had applied the same principles for local such companies, which had yielded enormous benefits for the public. He cited that MTCC had enjoyed profits prior to 2008, which had dipped afterwards to shocking amounts between MVR 8 – 48 million between the 2009 – 2011 period.
“However, with the procedures and policies implemented by President Yameen, MTCC recorded profits of MVR 118 million. The profits for 2015 are expected to be around MVR 150 million,” he said.
Ibrahim Abdu Razzaaq Haleem added that the company will introduced transportation systems for all atolls, assuring that majority of the 72 projects initiated by the company will be completed within the first six months of the year.
Ibrahim Abdu Razzaaq Haleem also highlighted that profits were not the only motive for the companies, adding that a strong social service component had to exist as well.
Role of companies key in state development: Ibrahim Abdu Razzaaq Haleem
