Multiple members have been sacked from the board of directors of several state-owned companies.

The Privatization and Corporatization Board (PCB) on Sunday revealed that some changes were brought to the board of directors of 10 state-owned companies on 8 August 2024.

As such, the reshuffle saw two members terminated from the board of Housing Development Finance Corporation Limited, and one appointed.

Three members were sacked from the board of Addu International Airport Private Limited and two were removed from the board of the Business Center Corporation Limited.

One was terminated from the board of Fahi Dhiriulhun Corporation.

PCB went on to reveal that three were terminated from the board of FENAKA Corporation, one from the Police Welfare Corporation board, one from the SME Development Finance Corporation Private Limited board, one from the Tradenet Maldives Corporation Limited board and three from the Waste Management Corporation Limited board.

PCB did not specify the reason for removing several members from the board of directors of the 10 state-owned companies.

The incumbent administration has been laying off a large number of employees from several companies, citing the country's dire economic situation.

However, the incumbent administration continues to make several political appointments.