AUGUST 18, 2020
The Delhi Metro Tuesday announced steep pay cuts for its employees on account of an “extreme adverse financial” crisis it is facing, with its services suspended for nearly five months amid the Covid-19 breakout, according to the corporation’s records.
The Metro is also struggling to repay loan installment to the Japan International Cooperation Agency (JICA).
“In view of the extreme adverse financial condition due to non-operation of metro services, the following orders are issued: It has been decided that the perks and allowances shall be reduced by 50 per cent with effect from the month of August 2020, till further orders,” says the order issued by DMRC senior deputy general manager (HR) Sangeeta Shrivastava.
The order also put on hold all sanctions of fresh advances for House Building Advance (HBA), laptop, festivals. The advances already sanctioned and those sought for medical treatment, TA, DA will continue to be granted, it added.
The DMRC had earlier written to the Centre requesting it to defer the payment of its loan installment for the year 2020-21. It owes JICA, which has so far granted Rs 35,198 crore loan to DMRC, Rs 1242.83 crore in the current financial year, which include principal and interest amounts.
However, the Centre had advised the DMRC, and other metro operators, to approach their respective state governments. Services of Delhi Metro, which spans 389 km across Delhi and parts of NCR, have remained suspended since March 22.
Courtesy/Source: The Indian Express
