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EPFO TO INVEST 5% PENSION FUND IN STOCK MARKET.
The Labour Ministry has directed the EPF Organisation to invest up to 5% of the EPF corpus in the stock market in this financial year 2015-16. The EPFO is having a fund corpus of about lakhs of crores of rupees. In 2015-16 alone it is expected that the deposit will be around Rupees one lakh crore.
Investing in stock market is risky, since there can be up and down. The Central Trade Unions have been strongly opposing investing in stock market due to this risk. But the BJP led government is determined to put the fund at the disposal of the corporates, which had liberally donated to its election funds.
Strong protest should come from the trade unions against this anti-worker decision.
MORE THAN Rs 1000 CRORE UNCLAIMED IN P.O.SAVINGS.
It is stated by the Communications Minister Ravi Shankar Prasad in Parliament that there is an amount of Rs. 1,000.61 crore lying unclaimed in the Post Office Saving Accounts, including in National Savings Certificate, Fixed Deposit etc. The main reason is the non-withdrawal of matured investments by the account holders, minister stated.
Because it is a government Department, the unclaimed amount are there. If it was private banks, the amount would have been appropriated towards service charges, condition on Minimum balance etc.
PARLIAMENTARY COMMITTEE REPORT ON MTNL.
As per reports in the media, the Parliamentary Standing Committee on Information technology has reported that MTNL, the telecom PSU providing services in Mumbai and Delhi, is not in a position to upgrade its network due to severe financial problems. It could only provide 1,49,973 landline/WLL/broadband connections against a target of 5 lakhs due to paucity of funds.
However MTNL has now been able to secure a loan of Rs. 1,200 crore from IDBI this year for upgrading of networks.
CABINET DECISION FOR CLOSURE OF HMT WATCH UNITS.
The Heavy Industry and Public Enterprises Ministry, which is the administrative ministry for the central PSUs, may move a Cabinet Note shortly for winding up of the loss making HMT watch units, which are HMT watches, HMT bearings and HMT Chinar watches. These are in loss for the last few years, mainly due to the non-support of the government following neo-liberal policies, which favour private companies. HMT Watches was an iconic company with a very high market share in the sector manufacturing excellent accurate watches.
The other loss making companies which are going to be wound up are: Hindustan Cables, Tungabhadra Steel and Hindustan Photo Films.
The government is on a plan to wind up many PSUs, on the plea of loss.
NO DISINVESTMENT OF BSNL & AIR INDIA- GOVERNMENT ASSURES IN LOK SABHA.
Minister of State of Finance, Shri Jayant Sinha informed Lok Sabha on 24th April 2015 that there will be no disinvestment of BSNL and Air India at present. He also stated that the employees in both PSUs are strongly opposing disinvestment.
Our opposition against disinvestment is noted by the government. Any move to disinvest BSNL will be against the assurances given by the government to the Joint Forum of BSNL Unions. But however, the workers have to be ready for strong struggle, if any move starts for disinvestment.
A BRIEF REPORT ON SOUTH AFRICAN PUBLIC SERVICE WORKERS MARCH TO TRASURY BY WFTU.
The seven COSATU-affiliated Public Service Unions (NEHAWU, SAMA, POPCRU, SADTU, DENOSA, SASAWU and PAWUSA) organized on 23 April 2015, a massive march in Pretoria to offices of the Departments of Finance and Public Service and Administration to protest the employer’s failure to meet their core demands which include, amongst others: a 10% salary adjustment and a R 1,500 housing allowance.
DEPARTMENT OF PENSION & PENSIONERS’ WELFARE STRESSES FOR AADHAR BASED BIOMETRIC VERIFICATION SYSTEM.
Aadhaar-based biometric verification system – Jeevan Pramaan : Message from DPPW
Government of India
Ministry of Personnel, P.G. & Pensions
Department of Pension & Pensioners’ Welfare
Message
In November, 2014, the Prime Minister has launched an Aadhaar-based biometric verification system “Jeevan Pramaan” to enable pensioners to submit a digital Life Certificate on-line. This is an important step in realizing the vision of Digital India. This facility has been provided in addition to the other existing methods of submitting Life Certificate.
2. “Jeevan Pramaan” aims at sparing the pensioners and family pensioners the trouble of visiting bank or any other pension disbursing agency for submission of Life Certificates. It is possible to submit the Life Certificate from personal computers and laptops or by visiting a conveniently located Common Service Centre. Further, banks will ensure authenticity of pension and other payments by linking Aadhaar number with bank accounts and PPO numbers.
3. All the pensioners/family pensioners are, therefore, advised to get themselves and their family members registered for Aadhaar and furnish this information to the Pension Disbursing Authority. This exercise may be completed at an early date so as to avoid inconvenience at the time of submission of Life Certificate in November, 2015.
4. For further details please visit https://jeevanpramaan.gov.in.
(Vandana Sharma)
Joint Secretary to the Government of India.
JAMNAGAR GEARS TO HOST THE CENTRAL EXECUTIVE COMMITTEE MEETING ON 28-29 APRIL,2015.
The historical city of Jamnagar is all set to host the Central Executive Committee Meeting of All India BSNL DOT Pensioners Association on 28th and 29th April, 2015.
The reception committee led by Com.A.C. Shah (Patron), Com.T.V.Ghelani (President) and
the all time energetic Com.M.B.Chaniyara (Convenor) is working over time to make the CEC memorable and historic.
The two days CEC will start with an open session at 11 AM on 28-04-2015 at Com.S.K.Vyas hall,,Dayashankar Brahmpuri, K.V.Road, Jamnagar. The subject session is scheduled to hold at 2 PM ans will continue on 29th also.
FORUM WRITES TO COMMUNICATIONS MINISTER SEEKING A MEETING TO DISCUSS REVIVAL OF BSNL.
Copy of letter sent by Forum dated 24-04-2015 to Shri Ravi Shankar Prasad, Communications Minister is reproduced below:
FORUM OF BSNL UNIONS / ASSOCIATIONS
D-7, Telegraph Place, Gole Market, New Delhi – 110001
Forum/HM 24-04-2015
To
Shri Ravi Shankar Prasad, Minister of Communications & IT, Sanchar Bhawan, 20, Ashoka Road, New Delhi – 110001
Sub: Request for a meeting with the Communications Minister on the issue of Revival of BSNL.
Respected Sir,
The Forum of BSNL Unions/Associations is the umbrella organisation of the BSNL Executives and Non-Executives numbering about 2.25 lakhs employed in BSNL. Forum is seriously concerned with the revival of BSNL and has been suggesting many proposals for the strengthening of BSNL and better service to the customers during the last many years.
The Forum has requested about half a dozen times to your kind self for a meeting with the Forum, so that our issues could be presented before you for kind consideration and settlement. Though your office had assured that meeting will be arranged, unfortunately so far no meeting has taken place. In fact, we could not to meet you even once after you assumed office.
You may be aware that the employees were compelled to go on Two days Strike on 21-22 April 2015 to focus our demands and for early settlement. The date of the strike was postponed twice in the hope that a serious discussion will take place with the DOT / Government. That also did not happen.
The employees were happy to read your declarations in the Parliament and outside that ‘BSNL will not be allowed to die’ and that necessary action will be taken to revive BSNL. The Forum is fully prepared to co-operate in this matter which is of vital importance to the employees.
I would, therefore, once again request you to kindly grant a meeting to the Forum of BSNL Unions/Associations at the earliest to discuss these issues and present our views.
Thanking You,
Yours Faithfully,
Sd/-
V.A.N.Namboodiri Convener, Forum. Mob: 9868231431