State trading organisation (STO) has announced that it has discontinued the process of merging with Fenaka Corporation Limited.
According to the state-owned company, the Ministry of Finance has sent instructions to halt the process of making Fenaka a subsidiary of STO. Hence, the board of directors has made decisions on ways to access the progress the company has made in accordance with the proposal to create the merger.
STO has now informed shareholders of the company about the decision.