SHILLONG, JUNE 7: Meghalaya government has sanctioned a whopping Rs 22.3 crore as voluntary retirement scheme (VRS) for employees of government owned Mawmluh Cherra Cement Limited (MCCL) which is facing financial crunch.
Briefing reporters after a cabinet meeting on Tuesday, chief minister Mukul Sangma said, “We have decided to support the MCCL in facilitating the VRS to its employees.” He informed that a total of 145 out of 455 employees have opted for VRS and the proposal has been approved by the cabinet.
Informing that the state government had release some amount to the MCCL earlier, he however said that the remaining balance will also be released soon to ensure that the process is completed.
The state government had already sanctioned Rs 80 crore to the MCCL as financial assistant.
Admitting that the MCCL is bleeding, he said that the support extended to the corporation is to help it become a profit making body again. According to him, the decision to support the MCCL was taken after due diligence.-By Our Reporter
+ There are no comments
Add yours