Business Standard

Tuesday, December 24, 2024 | 06:49 PM ISTEN Hindi

Notification Icon
userprofile IconSearch

Cabinet nod to closure of Handicrafts and Handlooms Export Corporation

Employees in the corporation - 59 permanent and six management trainees - will be given an opportunity to avail voluntary retirement scheme

Cabinet nod to closure of Handicrafts and Handlooms Export Corporation
Premium

The corporation has been continuously incurring losses since 2015-16 and not earning sufficient income to meet its running expenses | Representative image

Indivjal Dhasmana New Delhi
The Cabinet approved the closure of Handicrafts and Handlooms Export Corporation of India (HHEC), a government undertaking under the administrative control of the textile ministry.

Employees in the corporation — 59 permanent and six management trainees — will be given an opportunity to avail voluntary retirement scheme, according to norms laid down by the Department of Public Enterprises. The approval will benefit the exchequer in reducing recurring expenditure on salary/wages of a sick central public sector enterprise (CPSE) which is not in operation and earning no income.

The corporation has been continuously incurring losses since 2015-16 and not earning sufficient income to

What you get on BS Premium?

  • Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
  • Pick your 5 favourite companies, get a daily email with all news updates on them.
  • Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
  • Preferential invites to Business Standard events.
  • Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in