Fenaka owes STO MVR 1.8b in outstanding fuel bills
STO had been facing cashflow challenges due to Fenaka's outstanding as fuel is bought from abroad with the proceeds of sale.
Fenaka, the state-owned electricity service provider in the atolls, owes State Trade Organisation (STO) at least MVR 1.8 billion in dues for fuel bills.
An STO board member, who did not wish to be named, told Atoll Times on Monday that Fenaka has not paid for the fuel supplied by STO for more than a year. STO has made several attempts to recover the outstanding but to no avail, he added.
"Since last year till now, Fenaka has not paid any money to the STO. That's why Fenaka's dues for oil bills have now reached MVR 1.8 billion," said the board member with concern.
He said STO had been facing cashflow challenges due to Fenaka's outstanding as fuel is bought from abroad with the proceeds of sale.
Fenaka declined to comment.
Earlier, there were cases of Fenaka not paying for the goods and services provided by private companies. However, in the run-up to the elections, there are more complaints of Fenaka handing out jobs carrying out CSR activities in the islands.
The company has also been accused of corruption in the purchase of goods and services. However, the company had earlier denied the allegations and assured that such acts would not take place.
