The Delhi Metro on Tuesday announced sharp pay cuts with perks and allowances reduced up to 50 per cent. The decision which has been taken “in view of the adverse financial condition due to non-operation of metro services” will come into effect from August.
“In view of the extreme adverse financial condition due to non-operation of metro services, the following orders are issued: It has been decided that the perks and allowances shall be reduced by 50 per cent with effect from the month of August 2020, till further orders,” says the order issued by DMRC senior deputy general manager (HR) Sangeeta Shrivastava.
The DMRC has suffered a loss of nearly Rs 1,300 crore since the suspension of services from March 22 in the wake of COVID-19 situation, said sources.
The order also put on hold all sanctions of fresh advances for House Building Advance (HBA), laptop, festivals. However, the advances already sanctioned will continue to be granted.
Starting with the salary for August, perks and allowances will be payable at the rate of 15.75% of basic pay,” the order said.
“With immediate effect, all sanctions of fresh advances for house building advance, multipurpose advance, laptop advance, festival advance, etc to be kept on hold till further orders. Advances already sanctioned will continue to be disbursed, as and when a demand is received,” it added.
The DMRC is currently struggling to repay loan installment to the Japan International Cooperation Agency(JICA). It owes Rs 1242.83 crore to JICA which has so far granted 35,198 crore loan to the DMRC. As per the sources, the DMRC has about 14,500 employees.
