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| Kathmandu, Tuesday May 07, 2002 Baishakh 24, 2059. |
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HCF voluntary retirement
scheme well-responded
Post Report
HETAUDA, May 6: Following the announcement by
the board of directors of Hetauda Cement Factory (HCF) calling applications from staff
seeking voluntary retirement, 99 experienced staff holding responsible positions have
already submitted letters to the board seeking voluntary retirement.
According to officials at the factory, two
Deputy General Managers (DGM) and Administration Chief along with 96 employees have
submitted their applications till Monday.
The Board of Directors, with the approval of
Ministry of Industry, Commerce and Supplies (MoICS) and Ministry of Finance (MoF) had
called for applications from staff for voluntary retirement on April 15.
This was done with a view to downsize the number
of employees curtailing the liabilities of the cement factory, especially as its financial
performance has been dismal in recent times. The factory currently employs 807 people.
The application was sought from employees
completing of 15 years or above at the cement factory by April 13.
The deadline for submitting the application
closes on May 13 and by that time, the number of applicants could soar as high as 150,
according to an administrative staff of the factory.
The increased applications seeking voluntary
retirement, as the officials themselves put it, was due to the downtrodden financial
condition of the cement factory, which has further been hit by the closure of quarry
supplying high quality limestone in recent times.
The cement factory, established in 1976 had
incurred a loss of Rs 110 million during the last fiscal year alone. It also has failed to
acquire high quality limestone since two years due to the Maoist attacks at the limestone
mines.
The problem has worsened after April 23 when the
Maoists attacked the limestone furnace at Majhimtar and set ablaze loaders, dozers and
other equipments of Annapurna quarry supplying limestone to the factory from Jogimara.
This has stopped the supply of limestone to the factory.
According to the factory officials,
Jogimara-based limestone mine alone was supplying about 40 thousand tonnes of limestone to
the factory annually.
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