The State Trading Corporation (STC) was set up by an Act of Parliament of October 1982 (amended in 1988), to be the trading arm of the Government of Mauritius. It operates under the aegis of the Ministry of Industry, Commerce and Consumer Protection.
STC has been entrusted with the responsibility of importing certain essential commodities including all petroleum products and Liquefied Petroleum Gas (LPG) traded in Mauritius. STC also supplies the domestic market with Wheat Flour, Basmati and non-Basmati Rice.
It is administered by a Board of nine members comprising a Chairman appointed by the Minister with the approval of the Prime Minister, four (4) ex-officio members nominated by four (4) Ministries and one (1) by the Mauritius Ports Authority, as well as three (3) independent members. The Board members are appointed from both the public and private sectors.
The State Trading Corporation (STC) was set up by an Act of Parliament on the 24th of October 1982 to regulate and rationalize trade, particularly in relation to essential commodities. It was to operate as the trading arm of the Government on sound commercial principles.
STC became operational in January 1983 and today it is the importer of long grain white rice, basmati rice, wheaten flour and petroleum products (Mogas, Dual Purpose Kerosene, Gas Oil, Fuel Oil).
All the STC’s selling prices are fixed by the Government. As the rice and flour are sold at prices below landed cost, the difference is made good in the form of subsidy. With regard to the other products, the pricing is done at cost plus a margin basis. The margin is meant to cover the administrative expenses of the Corporation.
As at date, the STC has a workforce of 277 employees.
|Latest Audited Annual Report|| Year Ended 31 December 2015
|Profit for the year before Dividend||1.1|
|Dividend paid to Government||1.0|
|Subsidy on Rice ,Flour and LPG||0.8|
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