Fenaka Corporation has reported a staggering MVR 400 million in unpaid electricity bills, with significant arrears owed by various government agencies and state-owned companies operating in the atolls.

The corporation’s financial statements reveal that government bodies, including council offices, courts, and health centres, account for MVR 222 million of the outstanding amount. State-owned companies are responsible for the remaining MVR 178 million. The arrears have been building up for some time, with MVR 178 million of the total debt being over a year old, while MVR 75 million has been accrued within the past year.

In the past month alone, Fenaka has not received payments amounting to MVR 47 million from these government entities and state-owned enterprises.

While the government owes a significant portion of the outstanding bills, Fenaka itself is also in debt, owing MVR 3.7 million to private companies. Furthermore, the corporation has a massive overdue debt of MVR 2.1 billion to private entities, with bills outstanding for more than a year.

Fenaka Corporation has yet to make a public statement regarding any potential measures to address the unpaid bills or resolve the financial strain caused by these delays.