{"id":82246,"date":"2015-01-14T09:28:50","date_gmt":"2015-01-14T09:28:50","guid":{"rendered":"http:\/\/4cd.e16.myftpupload.com\/?p=82246"},"modified":"2015-01-14T09:37:42","modified_gmt":"2015-01-14T09:37:42","slug":"will-sell-stake-mmt-stc-govt","status":"publish","type":"post","link":"https:\/\/citifmonline.com\/2015\/01\/will-sell-stake-mmt-stc-govt\/","title":{"rendered":"We will not sell stake in MMT & STC – Gov’t"},"content":{"rendered":"
Government has ruled out any move to sell its shares in Metro Mass Transport Limited (MMT) and Inter-City STC.<\/p>\n
The assertions follows calls for government to cede its shares if the two are to run efficiently.<\/p>\n
The two over the years have faced some level of operational and financial challenges.<\/p>\n
On Monday, January, 2015 workers at the Metro Mass Transit company for example begun a nationwide indefinite strike.<\/p>\n
The workers were demanding the dismissal of the Board Chair, Osabarima Ansah Sasraku III and Deputy Managing Director, John Awuku Dzuazah of the company.<\/p>\n
They are accused the two of their involvement in the disappearance of the 12 of the company\u2019s buses and that their continuous stay in office will collapse the company.<\/p>\n
Industry players opine decoupling government from the company will better serve it, if it is, to succeed in future.<\/p>\n
[contextly_sidebar id=”XcJ1ooAZtxMLaPl8dri4ejp6Cs7n1gDR”]MMT and Inter-City STC are being run on a Public Private Partnership (PPP), with government owning some significant shares in two companies.<\/p>\n
Government has 45% in MMT with the remaining 55% being held by private investors including National investment bank (NIB), State Insurance Company (SIC), Agricultural Development Bank (ADB), SSNIT, GOIL and Prudential Bank.<\/p>\n