Centre to fund employee dues of its 11 loss-making units

The central government Wednesday approved the proposal for providing Rs.287.67 crore for the payment of provident fund, gratuity, pension, salaries and wages of 11 loss-making Central Public Sector Enterprises (CPSEs).

"The Cabinet Committee on Economic Affairs (CCEA) approved the proposal for providing non-plan budgetary support of Rs.287.67 crore for dues, provident fund, gratuity, pension, employees state insurance, bonus and salary from 01-09-2013 to 31-03-2014," the government said in a statement.

According to the statement, the 11 CPSEs include Hindustan Cables, HMT Machine Tools, HMT (Watches), HMT (Chinar Watches), Nagaland Pulp and Paper, Triveni Structural, Tungbhadra Steel Products, Nepa, HMT Bearings, Hindustan Photo Films, Heavy Engineering Corporation.

"Payment of outstanding dues of salary and wages would mitigate the hardships of the employees. The payment would also motivate them for giving better output and prepare them to achieve the goal of revival of these companies," the statement added.