MeECL moves CM Conrad Sangma to release terminal liabilities of Rs 840 crore

A Correspondent

SHILLONG: The Joint Action Committee (JAC) of the employees (serving and retired) of the Meghalaya Energy Corporation Limited (MeECL) on Tuesday met Chief Minister Conrad Sangma and urged him to release the employees’ terminal liabilities amounting to Rs 840 crore.

According to chairman of the JAC, TR Blah, when the MeECL was corporatised in April 2010, there was an assurance from the State Government that the service condition of the employees will not be less than what it was before corporatisation.

Blah said that the second condition was that the government committed to pay the terminal liabilities of the retired employees, amounting to Rs 840 crore as of March 31, 2010. General secretary of the JAC, Arju Dkhar said that terminal liabilities has three components – pension, gratuity and leave encashment of the retired employees.

Dkhar informed that since the MeECL did not get any financial support from the State Government, the revenue generated corporation was used to pay the benefits of the retired staffs starting from April 2010 to March 19, 2019, amounting to Rs 570 crore.

“Therefore, for this reason the MeECL is facing financial crisis. If this amount was used for other purposes there is no question of the corporation facing crisis,” Dkhar said.

Dkhar also said that if another actual valuation is done today, the terminal liabilities will not be less than Rs 2,000 crore.

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