Speaking at the function held last evening to mark the Golden Jubilee anniversary of State Trading Organization (STO), President Yameen has encouraged STO to expand their product line and to diversify their international trade networks.
Highlighting that the bulk of the state budget was spent on the import of fuel, President Yameen called on STO to devise mechanisms through which fuel could be imported more efficiently and cost-effectively. Reassuring the organisation of the Government’s full support, the President stated that it was imperative that STO facilitate the establishment of a national shipping line and purchase much required oil tanks.
Continuing on, the President called on all state owned companies to ensure the efficient delivery of affordable goods and services to the Maldivian people. President Yameen also urged all state owned companies to work more efficiently in order keep pace with the Government’s dynamic economic agenda.
Within this context, the President noted that the Government would not hesitate to dismiss the heads of those companies which failed to perform accordingly. For the purpose of examining the efficiency of these state owned companies and enhance their performance, President Yameen also highlighted that the President’s Office and the Ministry of Finance and Treasury were currently completing a performance audit.
Commending the organisation for 50 years of dedicated services to the Maldivian people, the President expressed his good wishes to the management and staff of STO on the occasion of the company’s Golden Jubilee anniversary.
At the ceremony, President Yameen was presented with a plaque of appreciation for his contributions to STO by the Chairman of the company, Mr. Ahmed Niyaz. Commemorative plaques were also presented to members of staff in appreciation of their long service to STO.
