STO denies chairman abused corporate credit card privilege

The State Trading Organisation (STO) has denied local media reports that Chairman Farooq Umar used the government company’s corporate credit card for personal use.

A press statement released yesterday explains that corporate credit cards were issued to senior executives after approval by the board of directors “to cover necessary expenses.”

“Although corporate credit cards were made for STO’s necessary expenses, the credit card policy approved by the board of directors allows personal use in cases of emergency or necessity,” it reads, adding that in such cases the policy was for executives to reimburse the company at the end of the month.