In a sudden development, Ahmed Shamah Rasheed has been removed from his position as the Managing Director of STELCO today. Consequently, Deputy Managing Director Dr. Ali Azwar has been appointed to oversee the company’s operations on an interim basis. While the official reason for Shamah’s dismissal has not been disclosed, the company’s Head of Procurement, Azhad Rameez, was also relieved of his duties shortly after the MD’s removal.
These structural changes coincide with the recent leak of an audio recording allegedly involving Shamah, which suggests the exploitation of STELCO for illicit gains. Shamah is the second individual to be dismissed from the MD position at STELCO under the current administration. He had previously served as the Managing Director of MIFCO, where he was suspended and subsequently dismissed following allegations of administrative irregularities.
