Karnataka

KSIC employees urge govt. to drop merger plan

KSIC employees staging a demonstration in support of their demands in Mysuru on Monday.

KSIC employees staging a demonstration in support of their demands in Mysuru on Monday.   | Photo Credit: M.A. SRIRAM

The Joint Employees’ Action Committee of Karnataka Silk Industries Corporation (KSIC), Mysuru, has opposed the move to amalgamate Karnataka Handloom Development Corporation Limited and Karnataka Silk Marketing Board into the KSIC, which produces the celebrated ‘Mysore Silk’ saris.

The employees, who staged a demonstration here on Monday protesting against such a proposal, expressed their apprehension that the KSIC will end-up as a “loss-making unit” if the Handloom Corporation and the Marketing Board, which are allegedly in loss, were merged with the “profit-making” KSIC.

With 18 outlets, the KSIC has an annual turnover of ₹200 crore and was spending ₹25-30 crore for its expansion. Instead of supporting the KSIC’s initiatives, the government had reportedly proposed the merger, they said and urged the government to drop the plan in the interest of the century-old silk factory.

The employees also sought an incentive of ₹15,000 promised to them which was pending since Dasara last year.

Why you should pay for quality journalism - Click to know more

Recommended for you
This article is closed for comments.
Please Email the Editor

Printable version | Apr 3, 2020 4:34:24 AM | https://www.thehindu.com/news/national/karnataka/ksic-employees-urge-govt-to-drop-merger-plan/article30785735.ece

Next Story