Corruption allegations have been filed with the Anti-Corruption Commission (ACC) against Ahmed Shamah Rasheed, who was dismissed from his position as the Managing Director of STELCO yesterday. The ACC has confirmed receipt of a complaint involving a former Managing Director of STELCO, although they have not yet disclosed specific details regarding the case. This development follows the announcement by the Privatization and Corporatization Board (PCB) yesterday, confirming Shamah’s removal from both the company’s Board of Directors and his role as Managing Director.
Shamah’s dismissal comes just four months after his appointment, amid the circulation of an alleged audio recording on social media. The recording features a conversation between two individuals, one of whom is purported to be Shamah, discussing activities that facilitate corruption. Shamah has denied the authenticity of the audio in statements to the media, labeling it as fake. It is noted that prior to this, while serving as the CEO of MIFCO, Shamah was suspended from his duties following various allegations and was subsequently dismissed from that post as well.
Following Shamah’s removal, the management of STELCO has been temporarily entrusted to Deputy Managing Director Dr. Ali Azwar.
