BEST takes loan from BMC to give ₹5,500 Diwali bonus to its employees | mumbai news | Hindustan Times
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BEST takes loan from BMC to give ₹5,500 Diwali bonus to its employees

This would mean that the amount and its interest would be recovered from BEST’s 30 lakh bus commuters and 10 lakh power consumers.

mumbai Updated: Oct 25, 2016 01:04 IST
Prajakta Kunal Rane
The employee unions of BEST had threatened to protest if the ex-gratia payment was not announced or given before Diwali.
The employee unions of BEST had threatened to protest if the ex-gratia payment was not announced or given before Diwali.(HT file photo)

Ahead of the civic elections, debt ridden Brihanmumbai Electricity Supply and Transport (BEST) undertaking has decided to give its 50,000 employees an ex-gratia payment of Rs5,500. The Brihanmumbai Municipal Corporation (BMC) is set to give a loan of Rs24crore to undertaking with which the ex-gratia amount will be paid.

When contacted, BEST committee chairman, Mohan Mithbaokar said, “We are yet to complete the formalities. The interest rate has not been decided so far but the ex-gratia payment will be paid from the new loan granted by the BMC.”

This would mean that the amount and its interest would be recovered from BEST’s 30 lakh bus commuters and 10 lakh power consumers. This could also mean that there will be no disruption in its services. The employee unions of BEST had threatened to protest if the ex-gratia payment was not announced or given before Diwali.