The Managing Director of Precious Minerals Marketing Company, PMMC Nana Kwasi Awuah says the legacy debt of the company is a huge albatross impeding on its operations with a call on the government to do something about it.
He said as of December 31, 2021, the legacy debt stood at 65 million Ghana cedis.
Giving an overview of the operations of the PMMC, Mr. Awuah said as of 2017 the debt stood at 30 million of which the company managed to pay 15 million. But because the debt continues to accumulate interest it has shot to 65 million.
He however commended the Deputy Minister for his support so far for helping to turn around the fortunes of the Company and said his outfit will continue to work in the interest of the nation.
The Managing Director of PMMC, Nana Kwasi Awuah gave a thorough overview of the work of the PMMC.
He highlighted the work his administration has done to turn around the fortunes of PMMC.
He also commended the Deputy Minister for his support so far for helping to turn around the fortunes of the Company and said his outfit will continue to work in the interest of the public.
The Deputy Minister for Lands and Natural Resources, Hon. George Mireku Duker had tasked the management of the Precious Mineral Marketing Company (PMMC) to engage with the public and sensitize them on activities of the Mineral marketing company.
Hon. George Mireku Duker tasked the management to engage with the public and sensitize them on the activities of the Mineral marketing company.
He urged them to collaborate with stakeholders in the mining communities and set up offices in the mining districts to make them accessible to the firms.
He believed that such a move will prevent the sale of minerals through illegal means christened “black market”.
He applauded the current management for their efforts in clearing the debt that once crippled the company.
He disclosed that the company has reduced the debt from 30million Cedis to 15million Cedis.
He noted that the interest on the debt has impacted negatively on the operations of PMMC and promised to deliberate with the Sector Minister on ways to clear the debt.
Story by:Kwaku Stephen
