JKIL approves Golden hand shake of 900 employees

GHS is a clause in an executive employment contract that provides the executive with a significant severance package in the case that the executive loses his or her job through firing,restructuring,or even scheduled retirement.

In the first phase,cases for GHS of 104 employees have been cleared and an amount of Rs 7.36 crores would be disbursed among 104 employees brought under GHS with the Board giving its nod for the same.

Approval of GHS cases also included consent to more 796 GHS cases of the employees,serving in various units of JKIL which will involve an amount of Rs 60 crores,he said.

The amount shall be disbursed among the targeted lot in a phased manner spanning over a period of two months,he said. The Finance department represented by Commissioner Secretary Finance Sudhanshu Pandey in the meeting agreed to the decision of the board.

The Board also agreed to bring Government Knitting Factory Jammu under the ambit of GHS scheme and cleared the cases of 15 employees of the factory.

The measures for the revival of Government Joinery Mill Bari-Brahmana and Pampore were also discussed at length in the meeting for which Jammu and Kashmir ITCO was asked to prepare a revival plan within one month time.

The Board also earmarked Rs 2.64 crores for the first phase of the revival of Government Silk Weaving Factory Rajbagh Srinagar.

Slathia asked the Corporation authorities to draw revival plans for the units which have some scope and potential for survival. He said the Government is committed to rejuvenate all these units and restore their pristine glory.

Referring to the measures taken by the government for putting the corporation back on rails,the Minister hoped that JKI would come out of its present crisis and attain self reliance by focusing on its core brands. He assured the management of possible help from the government for revival of its units.