The State Trading Organization (STO) has taken over matters related to the import of gas and initiated an investigation against Maldive Gas' Managing Director Abdulla Mohamed.

A reliable source told Adhadhu that the investigation was launched by the board of directors after it was revealed that money paid in advance for a shipment of gas had gone missing.

Sources said they will decide whether to take action against Abdullah after concluding the investigation.

The procurement of gas is now under the direct control of STO and sources said they do not believe that the decision will be changed while Abdullah is in office. An STO official confirmed the information.

Deputy Speaker Ahmed Nazim disclosed information about the missing funds during a meeting of the parliament's Public Accounts Committee.

Nazim told the committee that the advance was paid for a shipment of liquefied petroleum gas (LPG) in October last year. He did not say how much money was lost.

Adhadhu understands that USD 250,000 (MVR 3.85 million) was paid as an advance.

Maldives Gas is a joint venture between the State Trading Organization (STO) and Champa Gas and Oil Company.