STO launches campaign to cut operational costs by MVR 50 million
08 Jan 2014, 6:43 PM
Zaheena Rasheed
The State Trading Organization (STO) has launched a campaign to cut operational costs by MVR 50 million in 2014 (US$ 3,242,542).
The state-owned STO is the country’s primary wholesaler, responsible for bringing in the vast majority of basic foodstuffs such as rice and flour, as well as other imported commodities such as electrical goods.
It also imports the vast majority of the Maldives’ oil, used to fuel fishing and transport vessels, diesel generators, air-conditioners and water desalination plants.
The company’s chairman Ahmed Niyaz inaugurated the “Save 50 million” and a second campaign “Saafu STO” (Clean STO) at a ceremony held in front of the company’s headquarters this morning.
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