Rs 48.52 cr paid for salary of 10 sick CPSEs

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New Delhi, June 26 (UNI) Employees of ten sick Central Public Sector Enterprises (CPSEs), including HMT, will now get their pending salaries and statutory dues up to December 31, 2007.

The Government today notified budgetary support of Rs 48.52 crore for the pending payments, a Government press note said.

The ten CPSEs are Bharat Wagon Engg Co Ltd, Hindustan Cables Ltd., HMT Limited, HMT (Watches) Ltd, HMT(CW) Ltd, Hindustan Photo Films Ltd, Instrumentation Ltd, National Instruments Ltd., Triveni Structurals Ltd and Tungbhadra Steel Products Ltd.

Funds are being provided pending approval on the future of these CPSEs so that operations of the company are not affected in the interim period, and smooth transition to revival could be achieved.

Non-settlement of these liabilities had been causing serious hardships to the employees as also adversely affecting the day-to-day activities of the companies resulting in further deterioration of performance.

Such clearance of outstanding dues is likely to boost the morale of the workforce and help in restructuring these enterprises, the release said.


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