STC Board Sacked by Minister Michael Sik Yuen in Live Radio Announcement

The board of the State Trading Corporation (STC) has been dismissed by Minister Michael Sik Yuen, who made the announcement live on a private radio station in Mauritius. The decision was announced without prior public notice, marking a significant shake-up at one of the country's most important state-owned bodies. The STC's director general (CEO) has not been removed and remains in his position for the time being, according to the initial announcement. **What is the STC?** The State Trading Corporation is a Mauritian parastatal body — a government-owned enterprise — responsible for the importation and distribution of essential commodities. These include petroleum products (fuel, gas), flour, rice, and cement. Because the STC controls the supply of fuel and basic foodstuffs, its decisions directly affect the cost of living for all Mauritians. The STC also manages the Price Stabilisation Account (also known as the Buffer Fund), a mechanism designed to smooth out price fluctuations for consumers when global commodity prices spike. That fund has recently come under scrutiny amid rising import costs. **Why does this matter?** The STC sits at the heart of Mauritius's fuel pricing controversy. The corporation has been under pressure as import prices have surged — fuel import costs alone rose sharply in recent months — and the Buffer Fund has been reported as depleted, leaving the government with limited tools to shield consumers from global price increases. A board dismissal of this scale is an extraordinary move. Boards of parastatals are typically appointed by the government and serve fixed terms. Revoking an entire board signals serious dissatisfaction at the ministerial level — whether over governance, financial management, policy direction, or a combination of factors. Minister Sik Yuen's portfolio covers commerce and consumer protection, placing the STC squarely within his area of responsibility. **What happens next?** With the board dissolved, the STC will need new board members to be appointed before it can function with full governance oversight. In the interim, day-to-day operations are expected to continue under the director general. The government has not yet announced who will replace the dismissed board or on what timeline. **What this means for Mauritians** For ordinary consumers, the immediate impact is likely to be limited — the STC will continue operating. However, the shake-up raises questions about the future direction of fuel and commodity pricing policy at a time when household budgets are already under strain. Observers will be watching closely for the appointment of a new board and any policy signals that follow. Source: ION News