Moneycontrol
Feb 19, 2013 10:34 PM IST | Source: PTI

Cabinet likely to take up merger of BHPV with BHEL

The Cabinet is likely to take up the matter of merging Bharat Heavy Plate Vessels (BHPV) with parent company BHEL, in a meeting scheduled on Wednesday

 
 
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The Cabinet is likely to take up the matter of merging Bharat Heavy Plate Vessels (BHPV) with parent company BHEL, in a meeting scheduled on Wednesday. "The proposal related to merger of BHPV with BHEL is on the agenda of the Cabinet meeting on Wednesday ," sources said.


Prime Minister Manmohan Singh in 2008 announced the merger of sick-unit BHPV with BHEL. The merger was approved by the company's board in 2010. The much-awaited merger may pave the way for employees of BHPV to get 60 percent of 1997 wage-revision arrears once the company's losses are absorbed up to 50 percent.

According to sources, the Cabinet may also approve regularisation of pay scales of below board-level executives in state-run REC, NHPC, North East Electrification Power Corp, THDC India and the Satluj Jal Vidyut Nigam. The proposal is for regularising pay scales of this category of employees with effect from January 1, 1997.

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