Rot at PMMC

Business News of Tuesday, 10 February 2015

Source: Daily Guide

Precious Minerals PMMC

Source close to the Precious Minerals Marketing Company Limited (PMMC) have indicated that there is uneasiness at the company owing to dismissal of workers by management.

Already, 14 staff have reportedly been served with dismissal letters dated January 15, 2015 and they are supposed to take effect from February 15, this year.

BUSINESS GUIDE has also learnt that another batch of 15 workers is billed to be sacked very soon.

Some of the affected workers, who spoke to BUSINESS GUIDE, attributed the development to what they described as the dwindling fortunes of the company allegedly caused by financial mismanagement.

For instance, they said George Abradu-Otoo, Managing Director of PMMC took Ghc24,000.00 as basic salary as at October 2014, whereas his predecessor, Damptey Reuben, received Ghc9,452.24 as his take home pay as at January 2014.

Apart from Ghc24,000.00, Mr. Abradu-Otoo enjoyed a 6.5 percent and 3.5 percent provident fund payment respectively amounting to Ghc1,560.00 and Ghc840.00 as at October 2014.

He was also entitled to a rent allowance of Ghc4,800.00 while Ghc150.00 was paid to him to hire the services of a private garden boy every month.

He also received a houseboy allowance of Ghc150.00 and a security allowance of Ghc300.00 in addition to a car element of Ghc300.00, putting his gross earnings at a total of Ghc32,100.00 as at October 2014.

The MD’s predecessor had gross earnings of Ghc15,086.91.

Furthermore, the sources noted that board members of PMMC- Alhaji Sanni Mohammed, Addunku Bretuo Amoah, Michael Ologo and Edmund Yaw Hassan- allegedly increased their sitting allowances even though the company was struggling to survive.

For the past three years, the company’s performance has been nothing to write home about, the sources stated.

Ironically, a security staff who was affected by the ongoing exercise, revealed that he was only entitled to a basic monthly salary of Ghc100.00 out of which he was expected to contribute his social security against his retirement.

He was also to be paid a monthly transport subsidy of Ghc50.00.

A cleaner has been on contract there for nine years and has still been taking home Ghc150 as salary.

In October 2014, a five-member committee, chaired by the MD, was put in place by Nii Osah Mills, Minister for Lands and Natural Resources, to promote effective functioning of PMMC’s Internal Audit Unit and to follow-up on audit recommendations to ensure efficient and effective utilization of public resources in line with the objectives of the Public Financial Management Reform Programmes.

The committee comprised Jacob W. Essel, Head of Business Development; Wilson Adutwum, Corporate, Planning Officer (both of PMMC); Kwabena T. Obese-Jecty, representative of the Internal Audit Agency and Mary Ashon Mensah, representative of the Institute of Internal Auditors.

After establishing the committee to check bloated expenses, among others, the MD paid himself over 260 percent of what his predecessor was paid.