MALE, April 19 (Xinhua) -- The Maldivian Ministry of Finance and Public Enterprises has ordered government-owned companies to reduce their workforce by 33 percent, state-owned PSM News reported on Sunday.
PSM News reported that the directive has already been sent to the Privatization and Corporatization Board.
The ministry said the decision aims to cut operating costs and strengthen controls on government spending.
The measures are essential to ensure the long-term sustainability of state-owned companies and align their operations with the government's public finance and operational policies, it noted.
The ministry said it will monitor progress and compliance, while companies must report regularly on the implementation of the measures.
The directive builds on earlier cost-cutting measures, including limits on hiring and promotions, controls on salaries and benefits, reductions in overtime, cancellations of non-essential events, and cuts to travel and discretionary spending, PSM News reported. ■
