The State Electric Company Limited (STELCO) has refuted allegations made by former CEO Ahmed Zuhoor, of the company’s management abusing their position for illicit gain.
STELCO said in a statement on Thursday that Zuhoor’s claims are completely false and described them as malicious attempts to slander the company’s management.
In the statement, STELCO assured the public that it has abided by the corporate governance code and has worked to provide consistent service.
STELCO also said that Zuhoor’s comments are political and, expressing concern in this regard, asked why Zuhoor had failed to address the matter during his time in office.
In a tweet on Thursday, Zuhoor said the STELCO needs to ‘invest based on cost-benefit analysis’.
Dear Mugnee Stelco MD. Stelco need invest based on the cost benefit analysis, not based on to fill tummy. Stelco running on loss for many years because spare parts and every activity is carried commission based. Hulhumale 50MW is a part of Male network. Don’t play politics
— Ahmed Zuhoor (@zuhoorahmed10) January 3, 2019
Zuhoor sent out the tweet, addressing STELCO Managing Driector Hassan Mugnee.