What is Govt’s final say on MMTC, STC PEC Ltd?

The future of three trading companies of Government of India: MMTC, STC and PEC Limited remain unclear. The Government has not taken final decisions whether it would continue trading through these companies or would shut down completely?

On the one hand, MMTC is inducting Directors on the Board, but on the other hand it launched a voluntary retirement scheme for all employees in staff cadre and office cadre. The employees seeking VRS applied between September 9, 2026 and September 25, 2026, were also relieved on the last working day of October, 2026.

MMTC appointed Director Marketing and Director Finance, while the appointment of Director Personnel is in the process.

Despite being appointed, these Directors are said to be jobless? They have no jobs in MMTC?

STC and MMTC have huge land banks with properties in various cities beside huge housing societies in Delhi.

With no business to transact the salary to employees as well as miscellaneous expenditure on maintenance of assets is being spent from the funds available which may deplete shortly.

Paying salary to employees who have not been assigned any official works is a matter of concern and is a sheer wastage of public money

It is learnt that there are many recovery cases going on in the trading companies. If a decision is taken for their merger then at least the recovery process can be effectively handled.

The State Trading Corporation of India Limited (STC) has closed its Representatives Offices at Mumbai, Ahmedabad, Kolkata, Bengaluru, Hyderabad, Chennai, Jalandhar, Agra and Gandhidham. With the closures, operations at these locations have been terminated.

The STC has stopped undertaking any new business activity and is currently continuing as a non-operative company for the time being.

Yet another trading company PEC Limited has not undertaken any business activity since September 2019. The Financial Statement of the company is prepared on “Non- Going Concern Basis”.

The Boards of STC and PEC Limited are empty and Nitin Kumar Yadav (IAS:HR2000), Additional Secretary, Department of Commerce, is looking after additional charges apart from MMTC.

Feedback / Inquiries