Thane: A company Thane Municipal is the most stable financially (TMC) now in difficult circumstances to fulfill its income spending this month with only RS 13 Crore at the cashier.
Wahyu was made in a general body meeting held on Thursday night, after a discussion of the implementation of the seventh payment commission for corporate employees.
The Ministry of Finance told the house that there was an important decrease in revenue expected for the corporation in September because Covid, and that the corporation was left with only Rs 13 Crore with an average out of RS 30 Crore this month.
Expenditures are mainly related to paying electricity bills, water costs to institutions and salaries for outsourcing security institutions, among others.
Staff salary, whose number is about RS 77 Crore, will be paid after the corporation gets a GST contribution, tells an official from the Ministry of Finance.
A senior official associated a decrease in income to reduce income from traditional sources such as the city development office, among others, but added that corporations were able to soak the crisis.