Cabinet accept Strategic Sale In Bharat Pumps


New Delhi: The administration on Wednesday endorsed key disinvestment and a Rs. 111.59 crore money related help to Bharat Pumps and Compressors, Allahabad, as non-plan advance. 

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The Cabinet Committee on Economic Affairs (CCEA) affirmed the proposition of the Department of Heavy Industry. 

As per an official proclamation, the CCEA additionally agreed an "on a fundamental level" endorsement for key disinvestment of the organization. 

The CCEA said the monetary help will be utilized to clear statutory duty, for example, Provident Fund and Gratuity of resigned workers. 

"The statutory contribution, for example, Provident Fund and Gratuity of resigned workers will be released and the exceptional levy of CISF (Central Industrial Security Force) will be cleared," the announcement said. 

"It will inspire the workers and enhance the execution of the organization. This will put a conclusion to promote lawful complexities and punitive activity against the organization.

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