The
managing director and board secretary of the Gambia Printing and Publishing
Corporation (GPPC), has informed the Public Accounts and Public Enterprises
committees (PAC/PEC) of the National Assembly that the corporation faces an
accumulation of debt arrears by their own clients, especially the central
government and the private sector.
Momodou Ceesay made these remarks before the joint session of PAC/PEC yesterday while presenting the corporation’s annual activity report.
He said notwithstanding the improved performance, there are continuous challenges faced by the corporation regarding the accumulation of debt arrears by their own clients, especially with the central government and members of the private sector.
He said the reluctance by the public enterprises to print their revenue-generating materials with the corporation was also another challenge faced by the corporation, as well as the need for new printing machines and press.
“Even though there are some improvements, there is still room for further improvement,” he said, adding that the corporation would continue to address its challenges to overcome most of them in the next few years.
MD Ceesay said despite all the challenges they are faced with, the management of the corporation had improved its performance significantly both in profitability and financial liquidity indicating “a sign of good going business”.
The asset base of the corporation had also “increased slightly” and all their commercial bank liabilities have been fully settled, he told deputies.
The year 2014 had witnessed a good performance for the corporation, both operationally and financially, he said, adding that such a performance would “continue in the future”.
Mr Ceesay further told lawmakers that GPPC is really in need of the support of the Gambia government.
“We, therefore, require government’s support to enable us acquire the new technology to enable us to be more efficient and competitive, and to continue to lead the printing sector in the country and perhaps even compete in the sub-regional printing market in the long run.
“The uplifting of the corporation to higher heights would require, among other things, a massive investment in the modern state-of- the-art printing equipment, as the corporation at the present cannot finance this on its own.”
He added that the problem of the large amount of trade receivables “is still a main concern and the corporation’s effort is also geared towards the recovery of debt arrears.”
“The debt recovery strategy and action plan approved by the board is now being vigorously pursued.”
The GPPC is expected to report back to the National Assembly today for the consideration of their report by PAC/PEC.
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