The government said on Tuesday that the total default of public sector undertakings towards their workers stood at Rs 2082 crore (Rs 20.82 billion) and it was taking steps for redressing the grievances of the employees.
Replying to supplementaries during Question Hour in Rajya Sabha, Finance Minister Jaswant Singh attributed obstacles in dealing with the sick PSUs to the transition period between repealing of the Sick Industrial Companies (Special Provisions) Act (SICA) and winding up of the Board of Industrial and Financial Reconstruction and setting up of National Company Law Tribunal.
The setting up of the NCLT will take between five to six months as it requires several steps to put the tribunal in operation, he said.
The finance minister said as per the circular of April 3, 2003, 13 sick PSUs having outstanding statutory dues towards employees have been advised to clear them within 45 days.
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