AMRC recovers part of D335 million says Halifa Sallah

Wednesday, May 29, 2019

Halifa Sallah, chairman of the Public Enterprise Committee (PEC) and member for Serrekunda Central has disclosed that the Asset Management and Recovery Corporation (AMRC) has been established to recover over D335 million and that 90 percent of that money has been recovered.

Halifa Sallah was speaking on Monday while announcing the adoption of the 2015, 2016 and 2017 activity and financial statement of Asset Management and Recovery Corporation (AMRC).

The committee, he said, engaged institutions to make sure that they improved on their activities in line with their Act, saying the new management of Asset Management and Recovery Corporation should work hard and make sure that they put policies in place to recover those remaining debts.

“And if that is done, it will create more service and create employment for people” he added.

Serrekunda Central legislator added that Institutions must look at the Act that would guide its operations and to provide services to the government and also to generate employment.

“We anticipated that this engagement would lead us in that direction and the Board must assume responsibility to ensure that there is transparency in the operations of the institution.”

“Going through the activity report of the AMRC for the year ended 31st December, 2015, 2016, and 2017, it is proposed that this committee adopts this activity report and financial statement as a true and fair reflection of the state of affairs of the corporation for this year as to be able to review the content and then give a report to the National Assembly.”

Saikou Kujabi, deputy managing director of AMRC said they will engage their debtors and failing to settle, then the corporation will take them before a court of law to recover their debts.

 “It is a normal way that every loan that is contracted by a public enterprise or an entity should be secured and that the primary functions of AMRC is to give out loans.”

Author: Njie Baldeh