Ahmed Shamah Rasheed has been dismissed from his position as Managing Director and Board Member of State Electric Company Limited (STELCO).

The dismissal was carried out by the Privatization and Corporatization Board (PCB). No official reason was given for the decision.

Shamah was appointed as STELCO’s Managing Director after Hussain Fahmy was removed from the post in September 2025. Fahmy had served at STELCO for many years, though the reason for his dismissal was also not disclosed.

Before his role at STELCO, Shamah served as Chief Executive Officer of the state-owned fish company MIFCO. He took over that post in November 2023 and was dismissed in May 2025. He has also previously served as a State Minister at the Ministry of Fisheries.

STELCO has not yet announced who will take over the role following Shamah’s dismissal.