Excelsior Correspondent
JAMMU, Nov 15: J&K Cements retired employees who have been running from pillar to post for release of their retirement dues for last many years have appealed the Commissioner Secretary to Government Industries & Commerce Department of J&K UT to release an advance of Rs 25 crore in favour of M/S J&K Cements Ltd against disinvestment proceeds for survival of retired employees of the Company.
In this regard a letter has been submitted by J&K Cements Retired Employees Welfare Association a representative body of the retired employees of the Corporation to the Commissioner Secretary to Government Industries & Commerce Department three days back seeking his immediate attention towards this pressing and genuine demand.
The letter written by Mukhtar Ahmed Shah, general secretary of the Association on behalf of the retired employees of the Company recalled the discussion made with the Commissioner Secretary by the Association office bearers in this regard recently regarding release of some advance of 30 percent in favour of J&K Cements Ltd against the Disinvestment proceeds of the company for the retired employees for their survival.
They also turned the attention of the Commissioner Secretary regarding the assurance given by him that he would take up the issue with Government for consideration on humanitarian grounds till finalization of the disinvestment process of the company, the letter added.
It said that the Managing Director J&K Cements Ltd vide his letter Number 585 of 30-10-2023 addressed to Commissioner Secretary to Government I&C Department has also advocated for release of legitimate retirement dues in favour of J&K Cements Ltd whose financial condition is pitiable.
The letter further said that as per the balance sheet of the Company approved by Board of Directors of J&K Cements Ltd, the Company has liability of Rs 184 crore of retired employees as on 31-3-2022 which may vary or increase as more employees are attaining the age of superannuation every month.
The Association has appealed for release of an advance of Rs 25 crore to J&K Cements Ltd against disinvestment proceeds to meet the survival expenses of retired employees till finalisation of the disinvestment process of the company. This amount can be disbursed among retired employees @maximum Rs five lakh per head whose number is 500 and whose pending dues lying with the company, the letter added.
Showing optimism that the Government will consider the demand on humanitarian grounds till sell out of the company keeping in view the miserable and pitiable financial condition of retired employees as their services are totally non pensionable and they were fully dependent on retirement dues. The Association said that already 122 retired employees have died due to trauma and they could not get their retirement benefits during their life time despite serving the company for over three decades.
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