FENAKA Corporation has stressed that the company will face inconceivable losses due to the hefty fine it has been slammed with for having begun development plans in five islands without carrying out an Environment Impact Assessment (EIA) report.

Environment Protection Agency (EPA) fined the company by MVR 600,000 last week under the Environmental Protection and Preservation Act of Maldives for illegally and without approval, having begun work to build engine houses in Thakandhoo, Haa Alif atoll, Finey, Haa Dhaal atoll, He’badhoo in Noonu atoll, Maalhendhoo in Noonu and Kendhoo in Baa atoll during 2017 and 2018.

FENAKA revealed that the company had begun a lot of work to reform its procedures and put in exemplary efforts to redeem itself after the new government inaugurated in November 2018.

As such, the company had reached the EPA for a solution for the said projects for which it has been fined. These projects were initiated during former President Abdulla Yameen’s tenure.

Stressing that the company is saddened to face such a heavy penalty for the recklessness of the previous government, FENAKA revealed that these actions have resulted in incurable losses for the company.

Assuring the people that those who are to be held responsible for these consequences will be brought before justice and punished duly, FENAKA stated that they will not let it get in the way of their services and responsibilities to the people.

EPA ordered FENAKA to pay up the fine within 30 days and in a statement asserted that it is FENAKA, that must be held responsible for this reckless act.