In a television interview on September 30, Minister of Commerce Michael Sik Yuen revealed that the board of directors of the State Trading Corporation (STC) was revoked on September 29. This decision comes amid controversy surrounding the STC, including the non-delivery of a rice shipment and the corporation's failure to provide a list of products aimed at increasing competition in the market.
The STC's board of directors consisted of several members, including Dr. Takesh Luckho as president and Latanraj Ghoorah as director par intérim. Other members represented various ministries, including the Ministry of Finance, Ministry of Commerce and Consumer Protection, and Ministry of Agro-industry, Food Security, Blue Economy, and Fisheries. The board's revocation was announced during an interview on the TV show "Au cœur de l'Info".
Minister Sik Yuen also announced that Suren Dayal, the STC's director general, will remain in his position for the time being. Additionally, four individuals have been suspended, and further suspensions are expected. The minister cited the non-delivery of a rice shipment as a reason for the suspensions and potential further action.
The STC has been under scrutiny for its dealings, particularly a contract with Sahara Energy Resource Ltd, which was described as opaque by former Minister of Commerce Soodesh Callichurn. Callichurn questioned the tender process for the 2026-27 contract, asking if Sahara Energy Resource Ltd was indeed the lowest bidder.
Minister Sik Yuen defended the contract, stating that Sahara Energy Resource Ltd had previously worked with the STC under the MSM regime. However, he acknowledged that the contract with OQ Trading Ltd was lower by Rs 1 billion. Soodesh Callichurn expressed dissatisfaction with Sik Yuen's response and announced that he would refer the matter to the Financial Crimes Commission (FCC).
The FCC referral was made due to concerns over opaque procedures in the STC's dealings. Minister Sik Yuen responded to Callichurn's concerns, stating that the FCC would investigate the matter. The controversy surrounding the STC has raised questions about the corporation's management and decision-making processes.
The revocation of the STC's board of directors and the suspensions of personnel are seen as efforts to address concerns over the corporation's performance and transparency. The STC plays a significant role in Mauritius' economy, and its actions have implications for the country's trade and commerce.
Key points
- The board of directors of the State Trading Corporation (STC) was revoked on September 29.
- The revocation follows controversy over the non-delivery of a rice shipment and the corporation's failure to provide a list of products aimed at increasing competition.
- The matter has been referred to the Financial Crimes Commission (FCC) for investigation into opaque procedures.
