Maldives Transport and Contracting Company (MTCC) aims to make the company a profitable company by the end of the year, it has revealed.
Speaking at a ceremony held Sunday to mark the 19th year of providing ferry services to Villimale, newly appointed Managing Director of the company Adam Azim said the company faced decline in profit during the last few years.
Revealing that the state-owned company has suffered a loss of MVR 70 million this year alone in its public transportation sector, Azim said the company should be eligible for subsidy, and that the company was in discussion with the government to minimise losses faced by the public company.
The new MD further acknowledged that the internal expenditure of the company must be lessened with the cooperation of its staff in order to effectively minimize losses.
Maldives Transport and Contracting Company Plc (MTCC) was incorporated on 18 December 1980 as the first public company in the Maldives. Throughout its existence MTCC has positioned itself as the leading marine and land transport provider and civil and marine constructor.