Govt nod to raise retirement age in PSUs
The government on Thursday empowered ministers to raise the retirement age of employees in profit-making companies under their ministries from 58 years to 60.
By TNN |
NEW DELHI: The government on Thursday empowered ministers to raise the retirement age of employees in profit-making companies under their ministries from 58 years to 60.
The companies should, however, have made net profits for the past three years and have positive net worth, information and broadcasting minister P R Dasmunsi told reporters after a union cabinet meeting on Thursday. The meeting was chaired by prime minister Manmohan Singh.
As per the cabinet decision, the benefit would be available to only those CPSEs which have not availed budgetary support for the last three years. They should also not seek such support in future, he said.
Budgetary support covers assistance for non-plan expenditure for salary, payment of statutory dues, payment for voluntary retirement and separation and payment to meet cash losses, Mr Dasmunsi clarified.
The government also approved a draft memorandum of understanding (MoU) between India, Brazil and South Africa (IBSA) on mutual co-operation in public administration and governance. "The activities among the three sides will start after signing the MoU, which is to be done in the second half of the current year," he added.
Mr Dasmunsi also said that a decision on India joining the US-led container security initiative (CSI) is likely to be taken by the cabinet next week. "The external affairs minister wanted to work on some more points on the issue," he said. CSI proposes a security regime to ensure that all containers, which pose a potential risk for terrorism, are identified and inspected at foreign ports. Conceptualised after the 9/11 terror attacks in the US, CSI is meant to safeguard global maritime trade while allowing cargo containers to move more efficiently through the supply chain at seaports world-wide. It is designed to prevent containerised shipping from being exploited by terrorists. By participating in CSI, India can prevent any dangerous items from reaching its shores.
The companies should, however, have made net profits for the past three years and have positive net worth, information and broadcasting minister P R Dasmunsi told reporters after a union cabinet meeting on Thursday. The meeting was chaired by prime minister Manmohan Singh.
As per the cabinet decision, the benefit would be available to only those CPSEs which have not availed budgetary support for the last three years. They should also not seek such support in future, he said.
Budgetary support covers assistance for non-plan expenditure for salary, payment of statutory dues, payment for voluntary retirement and separation and payment to meet cash losses, Mr Dasmunsi clarified.
The government also approved a draft memorandum of understanding (MoU) between India, Brazil and South Africa (IBSA) on mutual co-operation in public administration and governance. "The activities among the three sides will start after signing the MoU, which is to be done in the second half of the current year," he added.
Mr Dasmunsi also said that a decision on India joining the US-led container security initiative (CSI) is likely to be taken by the cabinet next week. "The external affairs minister wanted to work on some more points on the issue," he said. CSI proposes a security regime to ensure that all containers, which pose a potential risk for terrorism, are identified and inspected at foreign ports. Conceptualised after the 9/11 terror attacks in the US, CSI is meant to safeguard global maritime trade while allowing cargo containers to move more efficiently through the supply chain at seaports world-wide. It is designed to prevent containerised shipping from being exploited by terrorists. By participating in CSI, India can prevent any dangerous items from reaching its shores.
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