Road Development Corporation purchased goods worth MVR2.2 million without bidding process, audit reveals
17 Mar 2014, 3:38 PM
The Maldives Road Development Corporation (MRDC) purchased material worth MVR2.2 million (US$142,671) without a bidding process, the 2011 audit report (Dhivehi) of the 100 percent government-owned company made public last week has revealed.
Noting that the MRDC has not formulated procurement rules to date, Auditor General Niyaz Ibrahim recommended drafting regulations in consultation with the Finance Ministry within a period of one month.
“As a large amount of the company’s money had been spent for various purpose without establishing sound rules, and as we believe the company’s board members have been negligent in carrying out their responsibility of protecting the company’s resources, action should be taken against [the board members] to hold them accountable,” the auditor general recommended.
The MRDC was formed in August 2010 by the administration of former President Mohamed Nasheed to facilitate road construction under a sustainable business model.
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