STELCO MD Shamaah dismissed after 4 months

Ahmed Shamaah Rasheed, who was appointed as STELCO Managing Director just last September, has been dismissed from the post today. 

In a post on X, the Privatization and Corporatization Board announced Shamaah's dismissal. However, they did not disclose the reasons behind the dismissal. 

Shamaah previously served as Managing Director at MIFCO as well. He was dismissed from the position after a month long suspension under allegations of mismanagement. 

Following this, Shamaah was appointed as a State Minister at Fisheries Ministry, although he appeared not to bear any major responsibilities. 

Shamaah is the second MD of STELCO that has been dismissed by this administration. Hussain Fahmy, who was initially appointed to the position, was dismissed in September last year, ending a 27 year career at the company. Fahmy now serves as Principal Secretary at the President's Office, which is of ministerial rank.