Financial Daily from THE HINDU group of publications
Saturday, Jul 17, 2004
Financial Daily from THE HINDU group of publications Saturday, Jul 17, 2004 |
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Money & Banking
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Pension Plans Plea to scrap pension scheme contract to ADB Our Bureau
New Delhi , July 16 THE National Campaign Committee of Unorganised Sector Workers has demanded scrapping of the Government contract given to the Asian Development Bank (ADB) for evolving a pension scheme for the unorganised sector. Addressing the media after a two-day conference here on Thursday, the newly elected President of the committee, Mr Baba Adhab, said that the ADB has in turn floated a global tender and has assigned the task of designing pension scheme for Indian unorganised sector workers to Australia-based New South Global, a wholly-owned subsidiary of the University of South Wales in Australia. The committee demanded that the entire contract with ADB be scrapped and the Government of India should design the pension scheme on its own in consultation with the labour organisations. According to Mr Adhav, the ADB had floated a $1-million tender to give the assignment to the Australian company. "It should be withdrawn," he said. The National Campaign Committee is a common platform of organisations working with different segments of the unorganised sector.
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