Thoddoo Council-owned firm urged to cut dependence

5 days ago

The Auditor General’s Office has recommended stronger financial discipline for A.A.Thoddoo Local Authority Pvt Ltd, the first company established by a Maldivian island council.   The 2023 compliance audit found the company has operated for more than a year largely dependent on the Thoddoo Council, which owns it outright. Incorporated on December 19, 2022, the company was intended to carry out economic