STO Chief not correct – Qasim

Wednesday, September 3rd, 2008

Presidential Candidate of Jumhoory Coalition Qasim Ibrahim has denied obstructing exploring of oil undertaken by State Trading Organization (STO) despite the allegations of the company’s CEO Ahmed Mohamed.

Responding to a question posed by Miadhu Daily at a press conference held in Male’ after completing his campaign visit to the islands of Kaafu atoll Jumhoory Coalition’s candidate said that Finance Ministry rejected the proposals of STO, to explore oil as the company sees fit, because such projects has to be tendered by the Trade Ministry as per established procedures. Qasim also said exploring oil was taken up as a means of seeking funds for the state budget.

“As far as I am aware, the topic was taken up in a discussion held at a Trade Ministry, discussions was on giving the rights to STO to conduct survey and explore oil, discussions were held at a ministerial committee, finance ministry was represented at the committee by the State Minister of Finance and Treasury Rilwan Shareef, it was he who raised the objections, he objected to the notion that the project be given to STO for implementation as the company sees fit, to hand over the exploration of oil to a company of STO’s choice according to terms and conditions stipulated by STO, Rilwan objected to this. However he did agree to put the project on tender through Trade Ministry. It is does not mean I obstructed the oil exploration process” Qasim said.

Qasim said such huge undertakings should be opened to international tender through Trade Ministry to obtain the best possible terms for the country. He said the project should be undertaken in a manner that will not allow corruption and should be completely transparent. He also said the best interests of the people should be taken in to consideration.

In an exclusive interview given to Raajje Daily, a local daily news paper owned by Running Mate of Dhivehi Rahyithunge Party (DRP) Ahmed Thasmeen Ali, CEO of STO Ahmed Mohamed has said that the company’s efforts to explore oil was obstructed by former Finance Minister Qasim Ibrahim. Ahmed Mohamed has said the fact that 2 independent surveys were carried out by 2 major companies dealing in oil in 1970 and 1980 and this gives credibility to the idea that there is oil to be explored in the country.

Leader of Jumhoory Coalition Qasim during his speech given at the launching ceremony of his presidential campaign has promised to explore oil in the country if elected. Qasim has said that if oil is found, the project will be implemented within 3 years.

Just days after Qasim’s announcement on exploring oil, Deputy Minister of Trade Abdulla Solih in an interview given to an online website has said that 2 companies have expressed interests in exploring oil in Maldives.
Surveys to find oil were carried by Shell in 1991 and 1992. However Shell never did reveal the survey reports. Deputy Minister Solih has revealed ‘that it is a bit early’ to reveal the names of the 2 companies seeking rights to survey Maldives for oil.

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