The Hindu Business Line : Centre to provide Rs 79 cr to 10 loss making PSUs

New Delhi, Sept. 18 The Centre has decided to provide over Rs 79 crore to 10 loss-making public sector enterprises for meeting outstanding dues, salary and wages for the period January-May 2008.

“The Cabinet Committee on Economic Affairs (CCEA) today gave its approval to provide budgetary support of Rs 79.7 crore toward liquidating outstanding statutory dues, salary and wages from January 1 to May 31, 2008 in respect of 10 loss-making CPSEs,” the Finance Minister, Mr P. Chidambaram, told reporters after the CCEA meeting here.

The enterprises that have got budgetary support under the package are Bharat Wagon Engineering, Hindustan Cables, HMT, HMT (Watches), HMT (Chinar Watches), Hindustan Photo Films, Instrumentation Ltd, National Instruments, Triveni Structurals and Tungbhadra Steel Products.

Scholarships

The CCEA also gave its approval for implementation of a central sector scheme of scholarship for college and university students at a cost of Rs 1,000 crore during the 11th Plan period. It also gave its approval to renew scholarship of the National Scholarship holders under the old scheme, with effect from 2008-09 till completion of their courses and to disburse the scholarship to them through the designated banks under the new scheme, without payment of arrears.

Indo-French deal

The Union Cabinet, which met here after the CCEA meeting, gave its approval for signing a social security agreement between India and France. The agreement provides benefits to Indian nationals working in France, including the avoidance of double social security contribution by Indian workers in France and portability of social security benefits on relocation.

The Cabinet also approved imports of one million tonnes of lentils from Myanmar to help stabilise domestic prices, Information and Broadcasting Minister Mr Priyaranjan Dasmunsi said while briefing the press after the meeting.

The Cabinet also cleared the signing the Air Services Agreement between India and Maldives. It also approved the signing of a Memorandum of Understanding on Labour and Manpower Development between India and Bahrain for protection and welfare of Indian workers in that country. The agreement envisages bilateral co-operation between India and Bahrain to facilitate the mobilisation and recruitment of manpower and exchange of expertise, knowledge and experience in job creation and generation of employment opportunity. The MoU also provides for authentication of the work contract between employer and the employee by the Ministry of Labour of the Kingdom of Bahrain. India has already signed similar labour agreements with Jordan, Qatar, UAE and Kuwait while negotiations with Oman and Malaysia have been finalised.

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