MVR350 million owed by Utilities Companies to STO

The State Trading Organisation (STO) has said that Utilities Companies owe STO about MVR350 million for fuel.

Managing Director of STO Shahid Ali said today at a press conference held at Velaanaage that difficulties are being faced by STO due to these debts.

“It’s not only in the past six months that we’ve had difficulties in collecting payments from Utilities Companies, this has been a problem before as well. But if I recall correctly, they’ve been finding it even more difficult to settle payments since December 2011,” he said.

He said that discussions are underway with the government and the Utilities Companies in question, in relation to this matter.

Shahid refused to comment on STO’s ongoing MVR19.3-million case against Meridium Service, by saying that he did not wish to discuss the case outside of Court.