Government promises to revamp STC

Accra, April 28, GNA - Alhaji Collins Dauda, the Minister of Transport, has said the government would do its best to revitalize the ailing Intercity State Transport Corporation (STC) that is at the brink of collapse with a huge debt handing around its neck. He said the government was determined to provide the people with good transport services and would seek ways to revamp the STC that is indebted to the tune of $15m.

Alhaji Dauda said this when he visited the company in Accra to discuss with its officials possible ways of turning around the company.

He said the most appropriate way to change its fortune was to invite a private investor to partner it and buy stock, adding that negotiations were underway with the Metro Mass Transport management to off load some of its buses and coaches to the company. Alhaji Dauda appealed to management of the company to also come out with cost effective ways of running the company by re-examining its operations.

Brigadier-General Edward Lord Attivor (rtd), the Managing Director of the STC, said as a result of mismanagement over the years, the company had not been able to perform up to standard and had lost majority of its trusted clients.

He said competition had been keen on the market and 9380 percent of our clients have sought other options since we are not able to maintain schedules".

Brig-Gen Attivor said due to the inability of accessing spare parts, the number had dwindled from 71 to 30. He said the company needed recapitalization and equity injection or liquidation because it had been bankrupt for over five years with a debt of $15m. Brig-Gen Attivor said a lot of work had to be done to get the company back on its feet and expressed the hope that the government would support it fully to gain back its integrity.