DMRC Reduces Perks And Allowances of Employees by 50% Citing Adverse Financial Condition Due to Non-Operation of Metro Services
Delhi Metro Rail Corporation (DMRC) on Tuesday announced deduction in perks and allowances of its employees citing adverse financial condition due to non-operation of metro services following COVID-19 outbreak. The perks and allowances of DMRC employees have been reduced by 50 percent with effect from August 2020.
New Delhi, August 18: Delhi Metro Rail Corporation (DMRC) on Tuesday announced deduction in perks and allowances of its employees citing adverse financial condition due to non-operation of metro services following COVID-19 outbreak. The perks and allowances of DMRC employees have been reduced by 50 percent with effect from August 2020. Delhi's COVID-19 Tally Reaches 1.54 Lakh with 1,374 Fresh Cases; Death Toll 4,226.
The DMRC in a statement said, “Starting with the salary for Aug, perks & allowances will be payable at the rate of 15.75% of Basic Pay.” In Delhi, metro services have been shut since March 22, the day Prime Minister Narendra Modi imposed the “Janta Curfew” after the outbreak of coronavirus. Even though other transport services have now been allowed as part of the relaxations, metro service remains to be barred. Casting Work of U-girders Commenced Under Phase 4: DMRC.
It added, "With immediate effect, all sanctions of fresh Advances for House Building Advance, Multipurpose Advance, Laptop Advance, Festival Advance etc to be kept on hold till further orders. Advances already sanctioned will continue to be disbursed, as & when a demand is received."
Statement by DMRC:
Earlier this month, the Centre asked the DMRC to approach the city government for financial assistance for the repayment of the soft loan it had taken from Japan International Cooperation Agency (JICA) for various projects. The DMRC had received a total loan of Rs 35,198 crore from JICA.
The loan was given to the Delhi Metro at a concessional rate of interest varying from 1.2 per cent to 2.3 per cent, and was repayable in 30 years with a moratorium of 10 years. Till now, the DMRC has repaid Rs 3,337 crore to JICA, and the balance liability was of Rs 31,861 crore.
(The above story first appeared on LatestLY on Aug 18, 2020 10:52 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).