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STELCO will stop relying on gov subsidy, earn the trust of citizens: MD

Lamya Abdulla
21 June 2022, MVT 10:26
Managing Director of STELCO Ahmed Shareef speaking at the ceremony held to celebrate the company's 25th anniversary on Jun19 -- Photo: Nishan Ali/ Mihaaru
Lamya Abdulla
21 June 2022, MVT 10:26

The new Managing Director of State Electric Company Limited (STELCO) Ahmed Shareef said on Sunday evening the company will work to earn the trust of the citizens and stop depending on subsidies provided by the state to run the company.

Speaking at the ceremony held in Dharubaaruge to celebrate the company’s 25th anniversary, Shareef said that they had to completely change the direction of the company in the past. Instead of depending on state allocated subsidies, Shareef said the company should sell different products so that they can reduce the price of electricity through the income generated on those sources.

“God be willing we will reduce the price of our services on our own. We will generate our own income and subsidies the price [of electricity],” he said in Dhivehi.

From the ceremony celebrating STELCO's 25th anniversary -- Photo: Nishan Ali/ Mihaaru

Shareef said that STELCO already is providing some of their services at loss. This includes the sewerage and electricity systems established in administrative islands and these services were provided at lower prices by generating income from other avenues.

He said the company has started working towards standing on its own and that this can be successfully achieved with the support of management and staff, the goal can be achieved.

Shareef said although STELCO is the main electricity service provider, the company must gain the trust of the public.

“We will take on this challenge and earn the trust of the citizens. We assure them that we will only bill for electricity that has been used.”

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