Power company says hands are tied over $45m subsidy cut
06 Apr 2015, 7:47 PM
The state-owned electricity provider to the atolls says its hands are tied after subsidy cuts last month left more than 5,700 businesses facing millions extra between them in electricity charges.
Companies on three more islands joined growing protests over the subsidy cuts today. Much of the anger is targeted at the state-owned Fenaka Corporation, which provides electricity to the Maldives’ remote islands.
The government previously provided Fenaka with about MVR11 million (US$713,359) a month to subsidise electricity for atoll businesses, it said yesterday, but this cost must now be borne by the companies themselves.
Fenaka Corporation managing director Mohamed Nimal told reporters on Monday that the company was only implementing government policies.
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