Employees of sick PSUs to get wages upto Dec 2006 by Jan 1

New Delhi, Dec 19 (UNI) The employees of sick public sector undertakings would get their wages upto December 2006 by January one, the Rajya Sabha was informed today.

Replying to a question, Minister for Heavy Industries and Public Enterprises Santosh Mohan Dev said that the wages upto June 2006 have already been cleared. He said that providing wages to these employees was part of the government's commitment.

About 25 per cent of the money received through disinvestment goes for the revival of sick PSUs while the 75 per cent funds are utilised for health, education and employment generation, he informed.

He said that the Government had on July six decided to keep all disinvestment decisions and proposals on hold, pending further review. He denied the BJP's charge that the government has already found an alternative route for disinvestment of PSUs.

He said that the government has approved disinvestment of Maruti Udyog Ltd, reducing the government's share to 45.79 per cent and renunciation of rights shares in May 2002 while in January 2006, 8 per cent government share was sold to Public Sector financial institutions and Public Sector Banks.

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