STC Board Sacked: Minister Michael Sik Yuen Orders Dismissal

Mauritius Trade and Consumer Protection Minister Michael Sik Yuen has announced the dismissal of the entire board of directors of the State Trading Corporation (STC), the government body responsible for importing essential commodities including fuel, rice, flour, and cement into Mauritius. The announcement marks a significant intervention by the new government at one of the island's most strategically important parastatals — one whose decisions directly affect the cost of living for all Mauritians. **What is the STC?** The State Trading Corporation is a state-owned enterprise that holds exclusive import rights for several key commodities in Mauritius. It controls the purchase and distribution of petroleum products, as well as subsidised goods such as rice and flour. Because it manages the country's Strategic Fuel Reserve and negotiates major supply contracts, the STC's governance has long been a matter of public interest. The corporation has also been central to debates around Mauritius's fuel pricing mechanism, particularly the management of the Petroleum Pricing Fund (also known as the buffer fund), which has come under scrutiny in recent months as fuel prices have continued to rise. **Why is the board being revoked?** Minister Sik Yuen made the announcement without providing detailed public reasons at this stage. However, the move is consistent with a broader pattern seen in Mauritius following changes in government, where incoming administrations review and reconstitute the boards of state bodies to reflect new policy priorities and ensure accountability. The current government, led by Prime Minister Navin Ramgoolam following the November 2024 general election, has signalled its intention to audit and reform several parastatal institutions inherited from the previous administration. **What this means** For ordinary Mauritians, the STC board shake-up could have real consequences. The corporation's leadership decisions influence how fuel, rice, and flour are procured and priced — commodities that affect household budgets island-wide. A new board is expected to be appointed in due course. Observers will be watching to see whether the reconstituted board leads to any changes in pricing policy, procurement practices, or the management of the buffer fund, which has been a flashpoint for public concern. No timeline for the appointment of a replacement board has been announced publicly at this stage. Source: Le Defi Media