Waste Management Corporation Limited (WAMCO) has refuted reports of a planned venture into local tourism to reaffirm its commitment to working with the private sector to expand its business portfolio.
In recent days, rumours have been rife across social media platforms that WAMCO was planning to expand its business portfolio to local tourism.
WAMCO in a statement, insisted that the reports indicating that it was looking for the commercial acquisition of land from islands in exchange for waste management services were misleading.
The company said it was exploring multiple avenues to reduce the dependency on State funds to provide the heavily subsidised waste management services across the country.
However, as efforts to make every waste management centre profitable especially in islands with small populations increases the financial burden on the public, WAMCO is exploring additional revenue measures in respective islands by working together with the island councils and the business community, the statement said.
Despite proactive efforts to explore additional revenue measures, WAMCO in the statement assured that it would respect the government’s wider policy to protect and enhance local businesses by working with the community.
Under this policy, WAMCO alluded to the recent announcement of three projects, including the development of uninhabited islands in Himmafushi, Kaafu Atoll and Lhohifushi along with a waste recycling project. According to WAMCO all three projects will be implemented on a joint venture basis with the opportunity open for all businesses registered in the Maldives.
WAMCO also urged local media to be more responsible in reporting unverified information, especially on social media.