Shamah says viral audio is fake as he denies knowing reason for dismissal

STELCO Managing Director Ahmed Shamah Rasheed says he has not been informed of the reason for his dismissal, and claims the audio clip circulating on social media is fabricated.

The Privatization and Corporatization Board (PCB) confirmed that Shamah was removed from his post effective Sunday, but did not disclose the reason behind the decision.

Following the dismissal, an audio clip, allegedly of Shamah, began circulating online. In the clip, a voice suggests that STELCO’s Procurement Department General Manager, Azhadh Rameez, and another individual “knew what he was trying to do” inside the company. However, it remains unclear whether the voice belongs to Shamah.  

Azhadh has also been dismissed from his post. Both are believed to be facing corruption-related allegations, though no official statement has been issued.

Speaking to Sun, Shamah said he had not been informed of any reason for his removal and insisted the audio was fake.

“Look, it’s a fabricated audio. It’s not true at all,” he said.

This marks Shamah’s second dismissal from a managerial post in a state-owned enterprise during the current administration. He was first appointed CEO of MIFCO, where he was suspended on March 18, 2024, over a corporate governance inquiry. The suspension, initially 14 days, was extended until April 21 and lifted on April 23. He was dismissed from MIFCO on May 21, 2024.

A day after his dismissal, on May 22, he was appointed State Minister at the Ministry of Fisheries. He was later appointed Managing Director of STELCO on September 7, 2025.