Enhanced VRS Package for the Employees of Hindustan Photo Films

Board for Reconstruction of Public Sector Enterprises (BRPSE) in its meeting held on 28.06.2013 has discussed various aspects of the status of revival of Hindustan Photo Films Ltd. (HPFL) and has suggested that following efforts may be made in this regard:

(i) Implementation of VRS on the basis of notional pay scales of 2007 without any arrears to all employees. The government should infuse required funds either in the form of equity or loan in escrow account or otherwise for implementation of VRS. Necessary exemption from DPE guidelines may be accorded.

(ii) All other liabilities of banks, FIIs, etc. should be settled by sale of the Company’s land at Chennai and Ooty and other assets. Any deficiency in the requirement should be funded by the Government.

(iii) The land in possession of the Company which belongs to Tamil Nadu government should be returned to that Government.

(iv) If any other Government organization, say the Ordnance Factory Board, would be interested to take the Company’s land for its own use then that should also be allowed. In case, Government wants to utilize the available land for any other use like setting up of a Hotel, that should also be permitted.

Giving this information in written reply to a question in the Lok Sabha, Shri Praful Patel, Minister of Heavy Industries & Public Enterprises, said that as recommended by BRPSE, an enhanced VRS package for the employees of HPF is being worked out.

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KKP