Piyush Goyal hands over salary dues to NTC employees

Mumbai: Union MinisterPiyush Goyalon Friday handed over cheques for 50% pending wages to the workers' representatives of the National Textile Corporation Limited (NTC). Goyal has been declared as the BJP nominee from Mumbai North.

The representatives from recognized workers unions from the Western and Southern Region were present on the occasion. Around 7000 NTC workers employed in 20 mills will benefit from it.

These pending wages of the NTC employees were halted since the imposition of the lockdown during COVID 19, and subsequent financial constraints faced by NTC.

Speaking on the occasion, Goyal said, it is unfortunate that COVID affected the company so badly and created difficult conditions including cash flow losses. The employees became victims of the pandemic, said Goyal expressing regret. He stated that a significant amount of the TDR (Transfer of Development Rights) could be sold despite a lot of difficulties, due to which it has been possible to clear the salary dues.

He said that the NTC employees’ pending salary dues upto December 2021 will be cleared today. “Within the next 30 – 40 days, we are confident that we will be able to clear another 8 months’ dues, that is upto August 2022”, he said and added that the entire salary dues will be cleared at the earliest.

Goyal added that expert opinion from all stakeholders, including those in the Central and Maharashtra governments was taken for the matter. He said that CMD, NTC studied the problem with a lot of empathy and, practically to understand how they can get the best value, considering what can be best received vis-a-vis the market situation. It was also studied how to bring in the highest amount of transparency in the entire system, through online auctions and ensuring every stakeholders’ participation, he said.