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| Constructions of magnesite plant: JKML, NMDC in joint venture: Slathia | | Distributes Rs. 2.50 crore among retired JKML employees | | EARLY TIMES REPORT
SRINAGAR, June 3:
In a path breaking development, the J&K Minerals Limited in joint venture with the National Mineral Development Corporation (NMDC) has started construction of a modern Magnesite Plant at Panthal, Jammu to utilize huge magnesite reserves. The Magnesite Plant, first of its kind in the State, is expected to be completed within 4 months and would go a long way in revenue generation besides providing 95% jobs to the local people.
Announcing this here today at a function organized in connection with release of outstanding retirement benefits to the retired employees of J&K Minerals, the Minister for Industries and Commerce, Surjit Singh Slathia said that the Chief Minister Omar Abdullah is very keen to revive all the Public Sector Understandings (PSUs) adding that the recently introduced VRS have proved very beneficial as the employees of the various corporations including 1200 working employees of JK Minerals Limited are now getting their monthly salaries regularly from last two years. Slathia distributed retiree benefit cheques worth Rs.1.10 crore among 109 retired employees of the JK Minerals Limited which includes their gratuity, leave encashment and G.P. Fund liabilities outstanding from 1999 to April 2004. The Minister also distributed cheques amounting to Rs.1.30 crore as C.P.F to the working employees of the JK Minerals Ltd. Besides paying Rs 60 lakhs coal Mines Provident Fund to the Regional Director, Coal Mines Provident Fund, J&K, Narhari Dass. The Minister urged the beneficiaries to utilize the money for setting up income generating units and welfare of their families.
Slathia said that the Government would diversify activities in various PSUs to make these profit making adding that due to various reforms like introduction of VRS, the JK Minerals Limited has been brought on break even position and is out of red now. Enjoining upon the employees and workers of the Corporation to work with added dedication and devotion, the Minister said that implementation of 6th Pay Commission recommendation in PSUs shall be possible only, when these become self sustained and profit earning.
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