Privatization Board appoints new chairman to HDC's board of directors

The state has appointed a new chairman to the state-operated Housing Development Corporation’s (HDC) board of directors.

The state’s Privatization and Corporatization Board said this and its chairman Mohamed Nizar said that the new chairman had been appointed on Tuesday.

Mohamed Shahid, native to Maafannu of capital city Malé, was appointed in place of Fuad Gasim. Shahid had previously served as managing director of the Maldives Integrated Tourism Development Corporation.

Gasim was relieved from his position at the helm of the HDC’s board on January 17th, and the authorities are yet to clarify why. He was appointed to the position in March of 2016.

Formerly a supporter of the Jumhooree Party, Gasim is prominent for having also supported the ousting of former President Mohamed Nasheed. He had also served as a minister of state at the Health Ministry.