Cabinet gives nod to offload Instrumentation units

Union Heavy Industries Minister Anant Geete had asked Rajasthan and Kerala governments to take over the units

GN Bureau | December 2, 2016


#Anant Geete   #Instrumentation Ltd   #PSU  

 The government has approved the proposal of shutting down the loss-making Kota unit of Instrumentation Ltd and hand over the company’s Palakkad division to the Kerala government.

The decision was taken by the union cabinet at a meeting chaired by prime minister Narendra Modi, reported Press Trust of India.
 
“The cabinet has approved attractive voluntary retirement or voluntary separation scheme (VRS or VSS) package at 2007 notional pay scales to employees of Kota Unit of Instrumentation Ltd, including the payment of pending salary, statutory dues etc, amounting approximately Rs 438 crore.” 
 
The report stated that Kota unit of Instrumentation has been in the red for many years whereas its Palakkad division has been making profit. Kota unit has around 500 employees and the Palakkad unit has staff strength of 300 employees.
 
Union Heavy Industries Minister Anant Geete had earlier written to the governments of Rajasthan and Kerala, requesting them to take over the units.
 

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