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RAJYA SABHA
Shri Shankersinh Vaghela, Minister of Textiles in a written statement informed the Rajya Sabha today that 14,500 employees under the National Textiles Corporation (NTC) in Maharashtra, who had opted for VRS, would be given compensation and other terminal benefits. For this purpose the National Textiles Corporation has mobilized Rs. 644 crore by floating Government Guaranteed Bonds. The employees mostly belong to the 18 loss making mills out of a total of 35 mills in the State of Maharashtra under the National Textiles Corporation. The Government is also in the process of working out how compensation is to be given to employees of other loss making mills in the country. Shri Shankersinh Vaghela assured the Members of the Rajya Sabha that the loss making NTC mills in Maharashtra would not be sold to private builders for profit making but would be utilized for structures like Delhi’s Pragati Maidan, where trade and commerce could be promoted.
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