State Electric Company Limited (STELCO) Managing Director and board member Ahmed Shamah Rasheed has been removed from his position, according to an announcement issued today by the Privatization and Corporatization Board (PCB).

Shamah was appointed as Managing Director of STELCO last year, following the removal of Hussain Fahmy.

The PCB did not provide further details or reasons for the decision, and no additional clarification has been issued at this time.