President Dr. Mohamed Muizzu has established a new state-owned company, the State Pharmaceutical and Medical Supply Corporation Limited. The company was established under the authority granted to him by Section 15 of the Companies Act (Act No. 7/2023).

The corporation’s primary objective is to strengthen the nationwide supply and procurement of medicines, medical consumables, and equipment.

The State Pharmaceutical and Medical Supply Corporation Limited is a fully government-owned entity, with 100 percent of its shares held by the Government of the Maldives.