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CCEA clears Rs 77.25 cr for 13 sick PSUs
Our Bureau
New Delhi, July 5 The employees of 13 sick public sector undertakings such as Andrew Yule, Bharat Wagon Engineering, National Instruments and some more may look forward towards receiving their due salaries and wages soon.
These employees would get their arrear salaries and wages up to March this year following approval from the Cabinet Committee on Economic Affairs (CCEA) here today.
The CCEA has sanctioned a budgetary support of Rs 77.25 crore towards liquidating outstanding dues, salaries and wages of employees of these companies.
The companies are Andrew Yule & Company Ltd, Bharat Opthalmic, Bharat Wagon Engineering Company Ltd, Hindustan Cables Ltd, HMT Ltd, HMT Watches, HMT (CW) Ltd, Hindustan Photo Films, Instrumentation Ltd, National Instruments Ltd, NEPA Ltd, Triveni Structurals and Tungabhadra Steel Products Ltd.
Briefing presspersons after the CCEA meeting held here today, the Finance Minister, Mr P. Chidambaram, said that “this would help in mitigating the hardships of the employees thereby motivating them for better output and prepare them to achieve the goal of revival for the companies.”
This is the for the fourth time that the UPA Government has provided grant to sick companies under the Department of Heavy Industries to pay the dues of employees.
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