MWSC seeks to boost dollar earnings through tourism sector

State-owned utility company Maldives Water and Sewerage Company (MWSC) is exploring ways to generate dollar revenue from the tourism industry to offset rising foreign currency costs.

Speaking on PSM’s Raajje Miadhu programme, MWSC Managing Director Abdul Matheen Mohamed said the company requires around USD 25 million annually to purchase fuel, but difficulties in securing dollars in the local market are driving up costs.

“Our customers include those who earn revenue in dollars. For example, tourism facilities, whether it be in Maafushi or Male'. We are looking into whether we can enter into agreements that allow them to pay us in dollars,” Matheen said.

MWSC’s board is also considering leveraging the company’s technical expertise in water and sewerage to contribute to tourism development projects as a means of generating dollar income. As part of this, Matheen highlighted ongoing work by the Maldives Tourism Development Corporation (MTDC) to complete the Naagoashi resort project in Haa Dhaalu atoll which had been given for tourist development 17 years ago, now expected to open next year.

The desired results of these efforts will be seen in the near future, Matheen said.