Srinagar, July 12: As a sequel to measures for revival of sick public sector undertakings (PSUs) by downsizing the over staff, the Minister for Industries and Commerce Mr. S.S Slathia today distributed about Rs. 2 crores among the 32 workers of Wuyan Cement Factory and Pre-Cast Concrete Factory, Wuyan, as their  settlement claims under Golden Handshake Scheme. The workers had voluntarily opted for golden handshake and the settlement claim includes ex-gratia gratuity, un-remitted CPF/ CMPF, leave encashment, cola arrears etc. he said all the 29 installments of cola have been released in favour of the employees of JK Minerals Ltd, an official statement said.
 The Commissioner / Secretary, Industries and Commerce Umang Narula, Managing Director, JK Minerals Limited, V.C Sharma, Financial Advisor, SRS Bali and a large number of workers and employees were present on the occasion.
 Speaking on the occasion the Minister said that the Government is committed to revive all viable sick PSUs adding that Golden Handshake scheme is one of the measures in this regards to down size over staffed companies.  He said though it is very unpleasant  to part  with the workers who have exhausted prime time of their youth in running the factories but at the same time it is a matter of great satisfaction that workers have been paid their settlement claims in full whereas those who retire under normal course are clamouring their their retrial dues in most of the PSUs. He advised the workers to utilize the amount for setting up small and micro enterprises and business so that they are able to live rest of their life without any hardship and difficulty.

Lastupdate on : Tue, 12 Jul 2011 21:30:00 Makkah time
Lastupdate on : Tue, 12 Jul 2011 18:30:00 GMT
Lastupdate on : Wed, 13 Jul 2011 00:00:00 IST