Waste Management Corporation (WAMCO) has said it has been unable to deposit employees’ pension contributions because Malé City Council has not paid MVR 98 million owed to the company.
WAMCO confirmed that pension deductions have not been credited to staff accounts, even though salaries and allowances continue to be paid.
The corporation said the delay stems from outstanding payments for waste management services provided to Malé City Council. WAMCO added that it has held several meetings with the council and has also sought help from the Ministry of Finance to recover the funds.
Discussions with the ministry are ongoing as WAMCO tries to resolve the issue and ensure pension payments are deposited.
