No Economic Crisis, Just a Lack of Management Capability: Riyaz Mansoor

Former Deputy Minister of Economic Development Riyaz Mansoor has stated that there is no economic crisis, asserting that the country's current difficulties stem solely from President Dr. Mohamed Muizzu's administration's inability to govern effectively.

Speaking at the "Employment Thursday" panel discussion hosted by the MDP on Thursday night, Riyaz stated that during the previous MDP administration, employment was successfully maintained despite the total shutdown of the country and the cessation of revenue during the COVID-19 pandemic. He highlighted that income support was provided to approximately 23,000 individuals, including employees working in the private sector.

Riyaz stated that while the MDP administration prioritized ensuring job security for employees even during periods of zero revenue, the current PNC government is operating in a manner entirely contrary to those principles.

There is no actual economic crisis; rather, we are facing a crisis of governance and a lack of management capability. In this situation, the claim is being made that a significant mistake was made in the past, and to rectify it, 14,000 employees must be terminated within three months.

Riyaz Mansour

Riyaz stated that changes may need to be made to the companies. However, he emphasized that these processes must be carried out much more effectively than they are currently.

Furthermore, Riyaz stated that structural changes are necessary within the management systems of state-owned enterprises, emphasizing the need to establish a framework where employees can operate independently. Riyaz also noted that the appointment of politically incompetent individuals to management positions has led to the decline of these companies, leaving them heavily politicized.