With the March 25 deadline approaching, the UT administration is accelerating the entire electricity privatisation process.
To settle the key and contentious issue of employee management after the electricity department’s transfer to a private firm, the administration has decided to appoint a consultant and assess the unfunded terminal liabilities concerning the employees.
The consultant (actuarial valuer) will undertake valuation assessment of pension, gratuity, provident fund, leave encashment, leave travel allowance, fixed post-retirement medical allowance and any other terminal liabilities applicable to the employees.
“For the settlement of employee dues, before the ownership of the department is transferred to the private firm, a trust will be set up from which dues will be transferred,” said a senior UT official.
