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Financial crunch in MMTC: Unions request CMD to downsize manpower

Country's leading international trading company MMTC Limited has fallen by the wayside. The real crunch came when the company failed to disburse salary for the month of September, due to heavy diversion of funds to NINL. The Federation of MMTC Staff Unions wrote the CMD requesting him to downsize the manpower by offering VRS in order to bailout the company from financial crisis. The company, which has always striven to outperform its own past records, fell into a decline as the Government failed to take timely decisions and extend financial support to the PSU at the beginning of financial difficulties, sources say.

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