December 2015 \ Cover Story \ Cover Story—Political Interview
“We are shutting down sick PSUs, looking at improving profitability”

Mr Anant Geete, Union Minister for Heavy Industries and Public Sector Enterprises,

Is there workers’ unrest?

In the industries we have decided to shut down, we are giving very handsome VRS packages. For instance, employees who are working on a pay scale of 1987, we are going to give them VRS packages on 2007 pay scales. So the workers will be making more money while retiring, than they may have made during their working life. I haven’t come across any remorse or bitterness. In fact, one PSU workers’ union came to us for speedy disposal of VRS package. Apart from attractive VRS packages, we are improving working conditions, especially in those industries which are not in profit but need to be revived.


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