The suspension period of MIFCO CEO Ahmed Shamah Rasheed has been extended.
Keyolha has learned that, as the previous suspension period expires today, the Privatization and Corporatization Board (PCB) held a meeting today to discuss the matter and extended the suspension for another 21 days starting tomorrow. The PCB states that the suspension is not a punishment for Shamah, but a temporary removal from his responsibilities as an administrative measure. The suspension is to prevent any obstruction or influence on the inquiry if he remains in his position.
The PCB suspended Shamah to conduct an inquiry into issues submitted to the board and through the PCB's whistleblower portal, in accordance with Article 25 (b) (1) of the rules on the code of conduct, complaints, and disciplinary actions for directors of state-owned enterprises.
Shamah was temporarily suspended from his duties without pay and allowances for 14 days on the 18th of this month. That period expired today. Therefore, the PCB board decided today to extend the suspension with pay and allowances from tomorrow until the 21st of this month. The PCB stated that the pay and allowances for the first 14 days of the suspension will be restored if the allegations against Shamah are not proven in the ongoing inquiry.
The allegations against Shamah by the PCB include the blatant use of company property and resources for personal and political purposes, unfairly removing permanent employees from their duties, workplace intimidation, demoting and reducing the salaries of permanent employees without any legal justification, and transferring employees to other departments and company sites without reason. Furthermore, he is accused of hiring family members and friends without an approved budget, contrary to the company's hiring policies and salary structure, and hiring employees under the guise of headhunting without considering qualifications, without public announcement, and without completing procedures, contrary to best practices and governance rules. He is also accused of creating company positions and filling them without PCB approval, and appointing individuals without adequate education and experience as department heads contrary to regulations.
Shamah has denied all these allegations by the PCB. Shamah has stated that a senior MIFCO employee and a PCB employee are conspiring to frame him for things he did not do, and that his suspension was carried out without completing legal procedures. He also stated at the Parliament's SOE Committee that the PCB has not questioned him regarding the allegations so far.
