The MD of MACL Adhil Moosa have said that even though the company had to pay 271 million dollars to GMR there will be no burden on the staffs of MACL.
In a ceremony held last night to award exemplary staffs at the company, Adhil said that everyone should believe that the company will face some financial difficulties after paying a huge sum of money at once. He said that however the company does not intend to reduce salaries or deduct in any financial incentives the staffs receive.
Adhil said that the company will have some problems with cashflow. He said that the amount was paid with 130 million dollars from the company reserve and then by selling company bonds. “We will cover this loss by reducing recurrent expenditure” said Adhil.
He said that even now the company is conducting developmental projects worth 800 million dollars and for each project the company has to keep 15 percent as equity. In addition he said that the fact that the company was able to pay such a huge sum at once shows the capacity of the company.
The MD urged the staffs to work hard to develop the company despite all these challenges.
There will be no burden on the staffs even though we had to pay 271 m dollars to GMR : Adhil
