SPMCIL assures ISP, CNP workers of no retrenchment

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Nashik, Nov 18 (UNI) The India Security Press (ISP) and Currency Note Press (CNP) workers were today assured by Security Printing and Minting Corporation of India Limited (SPMCIL) that they will not face retrenchment.

Speaking at a function organised by ISP/CNP workers co-ordination committee here, SPMCIL chairman and Managing director D R Arvind Mayaram, who was also felicitated on the occasion, said ''The corporation is responsible for all its 17,000 employees. There will be no retrenchment nor the work will be reduced.'' He said as part of the modernisation of all the nine units of the corporation, some new machinery have arrived, while orders for some more have been placed, to brace it for competition. However, the cost production cost needs to be as low as possible, on par with the RBI units as it's been the norm, he said.

He said pensions need not be a worry, as the trust formed for the pensions belonged to government of India and would be headed by finance ministry secretary. Therefore, there is no reason to worry for both, those who have opted for the pro-rata pension and those who have chosen combined pension. The rules for gratuity will be the same, Dr Mayaram said.

He also assured development projects, including modernisation of the hospital, rennovation of gymkhana building and its preservation as a heritage building, establishment of printing and minting special engineering college and research centre by the corporation.

Dr Mayaram was on a three-day visit to the ISP and CNP units here after formation of the SPMCIL, consisting of press units across India, on November one.

Meanwhile, General Secretary of India Security Press Mazdoor Sangh Rambhau Jagtap put forward some demands, including sanction of gradation proposal, increase in over time by one hour, implementation of sixth pay commission recommendations from January one 2008 and over time incentive payment, on the occasion.

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