Public finance committee to summon STELCO

Parliament’s public finance committee has on Thursday decided to summon State Electric Company Limited (STELCO) for questioning regarding its operations.

MPs decided to extend the duration of overdraft facility provided to STELCO by the Bank of Maldives in relation to a MVR 50 million loan and voiced concerns over the management of STELCO.

Maradhoo constituency MP Ibrahim Shareef said electricity is a basic necessity and expressed concern about how the company is run. Mandhoo constituency MP Ahmed ‘ADK’ Nashid alleged that STELCO is not run in a cost effective manner.

Eydhafushi Constituency MP Ahmed ‘Redwave’ Saleem echoed Shareef’s concern and suggested that STELCO be summoned for questioning.

Eight of the members in attendance voted in favour of summoning STELCO for questioning.