Hussain Fahmy, the Managing Director of the State Electric Company Limited (STELCO), has strongly denied allegations circulating on social media suggesting that he purchased an expensive apartment shortly after taking office.
Fahmy addressed the rumors in a statement posted on X, where he described the claims as baseless and politically motivated. The social media claims suggested that Fahmy had acquired an apartment worth MVR 8.5 million upon assuming his position as STELCO MD.
In his clarification, Fahmy revealed that the apartment in question had been purchased several years ago, during the administration of former President Abdulla Yameen Abdul Gayoom. He further explained that the payments for the apartment had been made over an extended period, well before his current role at STELCO.
Fahmy emphasized that these accusations were a deliberate attempt to tarnish his reputation for political gain. He also urged individuals to refrain from spreading false claims that could harm personal reputations, regardless of political intentions.
While open to criticism of his role at STELCO, Fahmy made it clear that unfounded accusations should not be used to mislead the public. He also reaffirmed his commitment to transparency and maintaining a focus on his responsibilities at the state-owned enterprise.
