Srinagar, Nov 10 (KNS): The employees of JK Cements Ltd (JKCL) and their families are facing starvation as they have not been paid their salaries by the Management of this Public Sector Undertaking (PSU) for the last four months.
The corporation was once the only profitable Public Sector undertaking in the State.
“The current management has failed to release the salaries of the employees. Around 700 hundred poor employees including the laboures are without salaries from last four months, one of the insiders wished anonymity told KNS.
They insiders said that they approached the in-charge Managing Director Atul Sharma many times, but he always responded by saying that the corporation has no funds for salaries. “We are without salaries from last four months. Managing Director hardly listens to our pleas and prefers mostly to stay at Jammu,” they added.
Another insider wished anonymity told KNS that although the company faced so many ups and downs from past many years but the present situation is very worrying. “The employees are very worried and feel their future unsure .Wrong policies wrong decisions, are the reasons for its failure,” they alleged.Click Here To Follow Our WhatsApp Channel
They appealed Chief Minister to intervene into the matter as early as possible so that thousands of families are not adversely affected.
Despite repeated attempts the Managing Director was not available for comments.
It is to mention here that this public sector unit is feeling the heat of the unrest, as it has reportedly recorded Rs 75 crore production losses in the current unrest.
One of the officials said that unit was closed for 100 days during the current unrest. As per the balance sheets of the company, the expenditure incurred on account of employees’ salary in 2011 was Rs 27.4 crore which increased by Rs 1 crore in 2012 to Rs 28.3 crore and to Rs 30 crore in 2013.
As per the balance sheets, the corporation in 2013-14 for the first time since its inception recorded Rs 16 crore loss. Till then the company was churning profit year after year.
JKCL has a monopoly on sale and supply of cement to government funded projects and departments. As per government orders, the state agencies have to give first preference to JKCL for purchase of cement. (KNS)