MMC to break FD for paying salaries

MARGAO: With outstanding arrears crossing a whopping Rs 10-crore figure mark and the current bank balance hovering between Rs 20-25 lakh, the Margao Municipal Council on Thursday decided to go in for premature withdrawal of a Rs 80-lakh fixed deposit to pay salaries of the civic employees.

The MMC was in need of funds to the tune of around Rs one crore to pay salaries of the regular employees pegged at Rs 82 lakh, besides an additional Rs 15.5 lakh on  the 170 daily wage workers engaged in door-to-door waste collection exercise, who have not been paid wages for the month of August.
That the MMC found itself in a tight position on the financial front became evident when the civic administration put up a note to the Chief Officer on Wednesday, seeking permission for the premature withdrawal of a fixed deposit certificate amounting to Rs 80 lakh.
Chief Officer Narayan Sawant told Herald on Thursday evening that he has cleared the file for the premature withdrawal of fixed deposits to meet the salary bill.
“Premature withdrawal of the fixed deposit was the only option left for the civic body as we cannot expect revenue of Rs one crore in the next five days. We are helpless with arrears crossing the Rs 10-crore mark for want of a mechanism to recover the revenue”, remarked a municipal official in the know. 
In fact, the Municipal officials are closely monitoring the cash inflow into the civic coffers since the last few days with the current balance not showing a rosy picture. Another civic official sought to blame the Manohar Parrikar government for the situation.

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