Great Eastern Hotel sell-off plans get boost

The Great Eastern Hotel, Asia's oldest, might soon go on sale with the workers union today agreeing to an early retirement scheme (ERS) for the employees proposed by the government as one of the conditions before the sell-off.

"The government has accepted the six demands put forward by the Great Eastern Hotel officers and workers association as a pre-condition for accepting the ERS. We can now, therefore, accept the ERS," INTUC state president Subrata Mukherjee said after a meeting with West Bengal Industrial Reconstruction minister Nirupam Sen.

Sen said the association's demands include payment of three months' salary at the time of serving the ERS notice, payment of food allowance as part of the salary, payment of career advancement dues and payment of salaries till implementation of the ERS.

Sen, going with the association demand, has asked for an addtional Rs 25,000 to be paid to each of those who had not been made permanent despite serving at the hotel for many years.

Sen also said that the government would also request the buyers to give eligibility opportunities to employee who are upto 45 years of age at the time of taking ERS.

"Today, a major hindrance has been removed with the INTUC agreeing to the ERS. They have the largest number of employees. The CITU has already agreed to the ERS," Sen said.

Sen said he would meet the bidders by July first week and it would take about six weeks for them to submit formal proposals. "We are hoping to complete the sell-off process by November, this year," Sen added.