PSPCL makes part payment to staff

THE REMAINING 40%

SALARY IS LIKELY TO BE CREDITED IN STAFFERS’ ACCOUNT BY APRIL 20

PATIALA: Punjab State Power Corporation Limited (PSPCL), set to suffer a loss of Rs 450 crore due to the curfew with power sales nosediving, has paid only 60% of March salary to employees, except those in C and D category. The deferred 40% is likely to be credited by April 20. The PSPCL has a monthly salary and pension bill of Rs 250 crore.

The decision impacts 60% of its 32,865 employees. The corporation has 71,000 pensioners who have got full payout. For the time being, the chief managing director (CMD) and all other directors will not get salary. They are retired power engineers from other entities and get pension.

“The Punjab government had to pay Rs 14,718 crore to the PSPCL in 2019-20, but it gave us Rs 9,200 crore only. The shortage of Rs 5,500 crore of subsidy hit us financially. The curfew means a loss of Rs 450 crore. PSPCL has no option. It is not a cut, but deferring of salary,” said a PSPCL top functionary.

“The Covid-19 has affected the world economy. PSPCL’s revenue has also been hit due to the lockdown and the imposition of curfew. Under the current distress situation, and in view of the financial crunch of the PSPCL, it has been decided to defer or make part payments of salaries for month of March 2020,” the orders from PSPCL read.

There is no deferment for all category D employees; probationers, those who work only on a basic pay scale.