Parliament Calls for Probe Into Fenaka Under Previous Government

The Parliament has approved a recommendation by the Public Accounts Committee to request a police investigation into potential money laundering and corruption involving projects conducted by Fenaka Corporation Limited in Addu City.

The decision was approved during Tuesday's parliamentary sitting.

The Public Accounts Committee decided to seek formal investigations following a review of a special audit report into Fenaka Corporation’s branches and projects in Addu City. The audit highlights that projects managed by the Addu branch were executed in a manner that caused significant financial losses to the company, while also revealing that 77 million Rufiyaa remains uncollected in outstanding electricity and water bills.

The committee has decided to refer the matter to the Anti-Corruption Commission, the Police, and other relevant investigative authorities to identify and investigate the board of directors in office at the time of the projects, as well as those responsible for the embezzlement of funds.

During Tuesday's sitting, the Parliament approved the Public Accounts Committee's report with 53 votes in favor following its presentation to the floor.

While Parliament focuses on investigating corruption allegations from the previous administration, significant corruption scandals involving Fenaka Corporation and other state-owned enterprises have surfaced under the current government. However, no adequate action has been taken in any of these cases to date, and investigations submitted to oversight authorities remain stalled. Furthermore, the government’s parliamentary majority continues to dismiss motions related to these issues.