Payment of salaries in 12 sick/loss making CPSEs

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New Delhi, Feb 21 (UNI) Employees of 12 sick or loss-making Central Public Sector Enterprises (CPSEs) under the Department of Heavy Industry will now get outstanding statutory dues, salaries and wages from July to September 2007.

The Cabinet Committee on Economic Affairs (CCEA) today cleared a proposal for providing non-plan budgetary support of Rs 77.48 crore for the three months towards payment of the outstanding dues, salaries and wages, an official spokesperson said after the CCEA meeting.

''It would mitigate the hardships of the employees, thereby motiviting them for better output, and prepare them to achieve the goal of reviving and restructuring the companies.'' The CPSEs are HMT Ltd, HMT (Watches) Ltd, HMT (CW) Ltd, Andrew Yule&Co. Ltd, Bharat Wagon Engg.Co.Ltd, Hindustan Cables Ltd, Hindustan Photo Films Ltd, Instrumentation Ltd, National Instrument Ltd, NEPA Ltd, Triveni Structurals Ltd and Tungbhadra Steel Products LTD.


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