President Dr. Mohamed Muizzu has decided to proceed with the Ocean Connect Maldives (OCM) international submarine cable project, without any further changes. The decision was reached after thorough discussions on a paper presented by the Ministry of Finance during the latest Cabinet meeting.
The OCM international submarine cable project is led by a subsidiary of the 100% state-owned company, Maldives Fund Management Corporation (MFMC). The Cabinet also decided that the Government would finance the USD 2.92 million owed to equity to resume loan disbursements for the project, investing the loan amount to move the project forward.
The President, following the Cabinet's recommendation, also decided that the Home for People with Special Needs (HPSN) will now operate under the Ministry of Health. This decision came after the Cabinet discussed a proposal from the Ministry of Gender, Family and Social Services during Sunday's Cabinet meeting. It also decided to disseminate the budget and staff responsible for the establishment's operations to the Ministry of Health.