The federal government has finalised a massive package worth over Rs25.25 billion for employees of the Utility Stores Corporation, which is being closed down.
The Ministry of Industries and Production has prepared the benefits plan in consultation with the Utility Stores Employees Union.
Compensation plan for permanent employees
According to official documents obtained by Samaa TV, permanent employees with more than 20 years of service will receive Rs3.443 million each. Those with less than 20 years of service will get Rs 2.436 million per person.
For the 230 permanent employees who have two years or less remaining before retirement, the package has allocated Rs1.552 million each. In total, Rs13.18 billion has been set aside for payments to 5,229 regular employees.
Benefits for contract employees
The package also covers thousands of contract workers. Each contract employee with more than 16 years of service will be given Rs1.127 million, while those with less than 16 years will receive Rs947,000 each.
Employees nearing retirement with two years or less remaining will receive a payout of Rs414,000 each. For contract workers, the government has allocated Rs3.60 billion to compensate 3,323 employees.
Support for daily wagers and widows
In addition, Rs2.71 billion has been allocated for payments to 2,854 daily wage employees. A separate fund of Rs5.75 billion has been set aside for liquidation of the Utility Stores Corporation and compensation to widows of deceased employees.
.gif)
