The Department of Heavy Industry is working on an enhanced voluntary retirement scheme for employees of sick PSU Hindustan Photo Films.
“As recommended by the Board for Reconstruction of Public Sector Enterprises (BRPSE), an enhanced VRS package for the employees of HPFL is being worked out,” Minister of Heavy Industries and Public Enterprises Praful Patel said in a written reply to the Lok Sabha.
In its meeting on June 28, the Board has discussed various aspects of the status of revival of the ailing state-owned unit which include implementation of VRS on the basis of notional pay scales of 2007 without any arrears to all employees, he added.
Ooty-based Hindustan Photo Films Ltd (HPFL), which employed over 714 employees as on March 31, 2012, was declared sick by the Board for Industrial and Financial Reconstruction (BIFR) in 1996.
The company, which was set up in 1960, was engaged in manufacturing of X-ray films, polyester based X-ray and graphic arts films and magnetic auto tapes.