The Edition


STO Senior General Manager transferred, two dismissed

Mariyam Malsa
21 February 2019, MVT 20:58
Former State Trading Organisations' Senior General Manager Fathmath. PHOTO: MIHAARU FILE PHOTO
Mariyam Malsa
21 February 2019, MVT 20:58

State Trading Organization (STO)'s Senior General Manager Fathimath Ashan was transferred to the STO subsidiary company Maldives Industrial Fisheries Company (MIFCO) as the Deputy Chief Executive Officer on Thursday.

Additionally, two high-level employees including Head of Procurement General Manager Mohamed Shujau and Head of Staple Foods and Energy Department Ramzee Abubakr were dismissed from their posts.

An official from STO stated that the changes were made in accordance with a framework recently created to strengthen STO's management.

STO's Managing Director Hussain Amru previously announced structural changes to strengthen the company.

In recent years, STO's annual profit have been consistently decreasing.

There have been complaints that STO had become politicized during the previous administration of former President Abdulla Yameen Abdul Gayoom.

Amru stated that there was a plan to ensure that STO became a profit-making company and to change the management structure. Additionally, STO would carry out operations in a way that did not harm small enterprises.