State Trading Organization STO’s MD, Ahmed Shaheer have said that some warehouses including staple food warehouse of STO were sold to the company during 2010..
Speaking at the parliament oversight committee, Shaheer said that some of the warehouses which were previously rented by STO from the government, were sold to STO in exchange for clearing the debts of the government.
Shaheer, said that the government sold these warehouses, at a higher rate than the then market value. He dismissed the rumors spread by the opposition and some media, saying that all the warehouses were given to STO at a discounted rate.
Shaheer said that around 8 to 10 years ago private businesses also used to import staple food items. He said that but now they have stopped importing these items and they import Baasmati Rice and other expensive flours used in bakeries.
Shaheer said that if private businesses import staple food items and sell at a cheaper rate than STO then it will really ease off the burden on STO and the government. Shaheer said that even today STO is the company with a mandate to import these items and provide items to the people at an affordable rate. He assured that they will continue doing that.
He further said that, when they renew contracts to import next year, they will try their best to import at a cheaper rate. He said that even now STO is identifying methods to sell at the cheapest possible rate.
Some of STO warehouses were sold to STO: Shaheer
