STC: activities "troubling" of 2008 to 2010
2 May 2011
Chassez le naturel, il revient au gallop. The State Trading Corporation (STC) is again haunted by his past.
The controversial management of the parastatal body under the leadership of Ranjit Soomarooah in 2008, resurfaced. Details of the Forensic Audit on the activities of the STC from 2008 to 2010 will be released shortly.
This weekend MMM opposition has got a copy of the report Bhadain and thus promises "shocking revelations".
At the Ministry of Industry and Commerce is conducting a performance of "damage control" especially since that document was received by the opposition a few days after the ministry took possession.
Minister Showkutally Soodhun gathered his troops in an emergency Friday in order to try to limit the damage. Called to rectify the blunders of his predecessors, he finds himself, suddenly, in a ridiculous situation.
STC was the subject of forensic audit because of some controversial activities, including the exercise of hedging, shipments of petroleum products from Mangalore Refineries Oil unfit and particularly the creation of the State Trading Corporation of Mauritius (STCM ) for the export of sugar. It had subsequently been dismantled on the eve of general elections in 2010.
Early indications are obtained; the report Bhadain would have established a series of anomalies in the financial management of the organization. Critics, some more severe than the other, have also been brought against some projects STC.
The loss of several billion rupees because of the hedging saga is also shelled from A to Z.
The operation‘s analyze of the STCM, especially the conditions under which this organisation exercised, is also combed through the report. The findings, officials said, would be troubling.