Maldives State Pharma reports large financial deficits

The Maldives state‑owned pharmaceutical company State Pharma disclosed substantial losses across several accounts, with deficits amounting to hundreds of thousands of rufiyaa. Figures cited include losses of 611,416 rufiyaa and additional shortfalls of 233,881, 104,008 and 175,000 rufiyaa in other budget lines. The finance ministry highlighted concerns over the company’s management, naming the director Shahu Mahir and other executives as responsible for the fiscal shortfall. A cabinet minister announced measures to address the shortfall and to improve oversight of the state‑run enterprise.

The revelations have prompted calls for tighter financial controls and a review of the company’s operating model to safeguard public health funding.