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Centre to offload two Instrumentation units in Kerala, Rajasthan

Kota unit has around 500 employees, Palakkad unit has over 300 employees

Press Trust of India 

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The Union Cabinet, chaired by Prime Minister Narendra Modi, on Wednesday approved a proposal to shut down the loss-making Ltd and hand over the company’s division to the Kerala government.

“The Cabinet has approved attractive voluntary retirement or voluntary separation scheme (VRS or VSS) package at 2007 notional pay scales to employees of Ltd, including the payment of pending salary, statutory dues etc, which amount to approximately Rs 438 crore," an official statement said.

While the has been in the red for many years, Palakkad's has been making profit. "While the Kota unit has around 500 employees, the unit has over 300 employees," a senior government official told PTI.

Union Heavy Industries Minister had earlier written to the governments of Rajasthan and Kerala, requesting them to take over the units.

Kota
Employees of the entity had been demanding that the Centre either delink it from its loss-making mother unit in Kota or merge with a profit-making public sector undertaking (PSU).

In February, the government had approved hiving off profit-making Rajasthan Electronics and Instruments Ltd (REIL) from its parent company Instrumentation Ltd and turning it into an independent central public sector enterprise (CPSE) under the Department of Heavy Industry.

was a joint venture between Rajasthan State Industrial Development and Investment Corporation (RIICO) and Instrumentation Ltd, Kota, with 49 per cent and 51 per cent ownership, respectively.

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Centre to offload two Instrumentation units in Kerala, Rajasthan

Kota unit has around 500 employees, Palakkad unit has over 300 employees

Kota unit has around 500 employees, Palakkad unit has over 300 employees
The Union Cabinet, chaired by Prime Minister Narendra Modi, on Wednesday approved a proposal to shut down the loss-making Ltd and hand over the company’s division to the Kerala government.

“The Cabinet has approved attractive voluntary retirement or voluntary separation scheme (VRS or VSS) package at 2007 notional pay scales to employees of Ltd, including the payment of pending salary, statutory dues etc, which amount to approximately Rs 438 crore," an official statement said.

While the has been in the red for many years, Palakkad's has been making profit. "While the Kota unit has around 500 employees, the unit has over 300 employees," a senior government official told PTI.

Union Heavy Industries Minister had earlier written to the governments of Rajasthan and Kerala, requesting them to take over the units.

Kota
Employees of the entity had been demanding that the Centre either delink it from its loss-making mother unit in Kota or merge with a profit-making public sector undertaking (PSU).

In February, the government had approved hiving off profit-making Rajasthan Electronics and Instruments Ltd (REIL) from its parent company Instrumentation Ltd and turning it into an independent central public sector enterprise (CPSE) under the Department of Heavy Industry.

was a joint venture between Rajasthan State Industrial Development and Investment Corporation (RIICO) and Instrumentation Ltd, Kota, with 49 per cent and 51 per cent ownership, respectively.
image
Business Standard
177 22

Centre to offload two Instrumentation units in Kerala, Rajasthan

Kota unit has around 500 employees, Palakkad unit has over 300 employees

The Union Cabinet, chaired by Prime Minister Narendra Modi, on Wednesday approved a proposal to shut down the loss-making Ltd and hand over the company’s division to the Kerala government.

“The Cabinet has approved attractive voluntary retirement or voluntary separation scheme (VRS or VSS) package at 2007 notional pay scales to employees of Ltd, including the payment of pending salary, statutory dues etc, which amount to approximately Rs 438 crore," an official statement said.

While the has been in the red for many years, Palakkad's has been making profit. "While the Kota unit has around 500 employees, the unit has over 300 employees," a senior government official told PTI.

Union Heavy Industries Minister had earlier written to the governments of Rajasthan and Kerala, requesting them to take over the units.

Kota
Employees of the entity had been demanding that the Centre either delink it from its loss-making mother unit in Kota or merge with a profit-making public sector undertaking (PSU).

In February, the government had approved hiving off profit-making Rajasthan Electronics and Instruments Ltd (REIL) from its parent company Instrumentation Ltd and turning it into an independent central public sector enterprise (CPSE) under the Department of Heavy Industry.

was a joint venture between Rajasthan State Industrial Development and Investment Corporation (RIICO) and Instrumentation Ltd, Kota, with 49 per cent and 51 per cent ownership, respectively.

image
Business Standard
177 22

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