STC to retire one in six employees | india | Hindustan Times
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STC to retire one in six employees

THE STATE Textile Corporation (STC) board of directors meeting today decided to day give voluntary retirement to one employee out of six while the remain five would be considered for adjustments.

india Updated: Aug 24, 2006 12:44 IST

THE STATE Textile Corporation (STC) board of directors meeting today decided to day give voluntary retirement to one employee out of six while the remain five would be considered for adjustments.

Chaired by Commerce & Industry Minister Babulal Gaur, the board also rejected the proposed sale of the Corporation’s emporium at Gwalior for not receiving the right price. It was also proposed to give the emporium on lease to MP Handloom and Handicrafts Corporation, the decision to the effect would be taken later, after a study.

Replying to the proposal of selling out of Avanti Textile Mill to Mill Workers’ Association, Commissioner Industries & Textile Corporation’s managing director, M Gopal Reddy said the decision to sell the said mill to the association at Rs 3,20,74,275 was taken during the former Government, by the Cabinet sub-committee headed by Subhash Yadav on August 7, 2003.

“Instruction to this effect was then given to the industry department,” he added. The Commissioner further added the new BJP Government had instructed that it should not to go for direct sale and instead ordered the floating of a tender. In addition, it was also decided not to sell the open land of the mill and instead give it on lease.

The open land has been given on a 30-year lease to the Mill workers’ association, whereas the plant machineries has been given under open tender to Avanti Textile Mill Workers’ Association at Rs 5.21 cr.

Handicraft Corporation’s managing director SS Uppal and Laghu Udyog Nigam’s managing director BP Singh also attended the board meeting.