1. PJCA KERALA CIRCLE CONVENTION AT THRISSUR ON 10.03.2015
2) Govt to shut down Air India, MTNL, HMT & few sick units?
Five public sector undertakings (PSUs) will be closed down by the government, which has included some of the best known state-run enterprises like Air India, MTNL and Hindustan Shipyard, in the list of 65 sick PSUs, Lok Sabha was informed on Tuesday. 2998 46 Google +30 34 Comments (12) Govt to shut down Air India, MTNL, HMT & few sick units? Five public sector undertakings (PSUs) will be closed down by the government, which has included some of the best known state-run enterprises like Air India, MTNL and Hindustan Shipyard, in the list of 65 sick PSUs, Lok Sabha was informed on Tuesday. The five state-run organisations to be closed down include three HMT units whose brand of watches and tractors once ruled the market, Heavy Industries Minister Anant Geete said during Question Hour, adding that their employees were being offered a "very good" VRS package. However, he did not name the other PSUs which are slated to be closed down. Air India and MTNL, once market leaders in aviation and mobile telephony sectors respectively, were declared sick as per the criteria for a PSU to be declared as such, after they incurred losses worth 50 percent or more of their average net worth during four preceding years. The Minister said there were 65 units in the list of sick PSUs as of March 31 last year. The reasons for their sickness vary from enterprise to enterprise and included obsolete plants and machinery, heavy interest burden, resource crunch, surplus manpower and shortage of working capital, he said. Air India accumulated losses of Rs 5388 crore, Rs 5490 crore and Rs 7559 crore in years 2013-14, 2012-13 and 2011-12 respectively, according to the figures tabled in the House. MTNL showed profit of Rs 7820 crore in 13-14 but had incurred losses of Rs 5321 cr and Rs 4109 cr in the previous years. Hindustan Shipyard Limited posted losses of Rs 859 crore, Rs 551 crore and Rs 462 crore in the three years. Geete said the concerned administrative ministries "prepare proposals for revival or otherwise of sick companies on case to case basis and obtain approval of the government." MTNL stock price On March 12, 2015, at 10:01 hrs Mahanagar Telephone Nigam was quoting at Rs 22.10, up Rs 1.05, or 4.99 percent. The 52-week high of the share was Rs 39.10 and the 52-week low was Rs 14.01. The company's trailing 12-month (TTM) EPS was at Rs 115.91 per share as per the quarter ended December 2014. The stock's price-to-earnings (P/E) ratio was 0.19. The latest book value of the company is Rs 80.01 per share. At current value, the price-to-book value of the company is 0.28. RELATED NEWS
Read more at: http://www.moneycontrol.com/news/business/govt-to-shut-down-air-india-mtnl-hmt--few-sick-units_1324940.html?utm_source=ref_article
3)LTC to Government Employees to visit SAARC countries under consideration
A proposal to provide Leave Travel Concession (LTC) to Government employees to visit some SAARC countries is in its initial stage of consideration. The details are yet to be finalized.
The purpose behind the proposal is to enhance people-to-people contact and bilateral ties in the SAARC region through increase in tourism in the region.
As per the Government’s order dated 26.09.2014, the Government has extended the facility of conversion of home town LTC to visit the states in the North East Region, Jammu & Kashmir and the UT of Andaman & Nicobar Islands for a period of two years up to 25.09.2016. This facility was first introduced in the year 2008.
Presently, no other proposal is under consideration for including more places under the conversion of Home Town LTC to anywhere in the country.
This was stated by the Minister of State for Personnel, Public Grievances and Pensions and Minister of State in Prime Minister’s office Dr. Jitendra Singh in a written reply to a question by Shri M. Raja Mohan Reddy in the Lok Sabha today
4)Clarification on MACP Scheme – Employees joining in Grade Pay of Rs.4600 on direct recruitment
G.I., Ministry of Railways, Railway Board Letter No.PC-V.2010/MACP/7ECR, dated 4.9.2014
Subject: Grant of financial upgradation under MACP Scheme – Clarification reg.
Ref: ECR’s letter No.E/205(A)/O/ECR/HJP, dated 11.07.2014
In context of E.C.Railway’s letter under reference, it is stated that the matter has been examined and it is clarified that:-
(a) The employees joining a post in Grade Pay of Rs.4600, on direct recruitment basis may be considered for grant of financial upgradation in Grade Pay of Rs.4800, Rs.5400 of PB-2 and Rs.5400 of PB-3, provided that no two successive grades i.e., feeder and promotional are in the same Grade Pay.
(b) Similarly, the employees joining a post in Grade Pay of Rs.4200, on direct recruitment basis may be considered for grant of financial upgradation in Grade Pay of Rs.4600, Rs.4800 and Rs.5400 of PB-2, provided that no two successive grades i.e., feeder and promotional are in the same Grade Pay.
(c) Accordingly, the employees joining a post in Grade Pay of Rs.2800, on direct recruitment basis may be considered for grant of financial upgradation in Grade Pay of Rs.4200, Rs.4600 and Rs.4800 of PB-2, provided that no two successive grades i.e., feeder and promotional are in the same Grade Pay.
2. Further, the grant of financial upgradation under MACP Scheme is subject to fulfilment of terms and conditions contained in Board’s letter dt. 10.06.2009 (RBE No.101/2009) and clarifications issued in context thereof and the same may please be ensured while considering cases for financial upgradation under MACP Scheme.