Union Minister promises payment of arrears to FACT retirees

Union Minister for Chemicals and Fertilizers Mansukh Mandaviya has assured N.K. Premachandran, MP, that the demand for payment of arrears of revised wages to those who have retired from the public sec

Union Minister for Chemicals and Fertilizers Mansukh Mandaviya has assured N.K. Premachandran, MP, that the demand for payment of arrears of revised wages to those who have retired from the public sector Fertilizers and Chemicals Travancore will be considered favourably and implemented in a timely manner. The assurance was given after Mr. Premachandran met the Union Minister. Mr. Mandaviya congratulated the management and workers of FACT for turning the company into a profitable one. FACT has been running in profit continuously for the last three years. The company was in profit during 2018-19, 2019-20 and 2020-21. The total profit was to the tune of ₹1,490 crore, said a submission by the MP. Though wages revision was affected in the public sector company in 1997, the revised wages were not paid to the employees till June 2001. It was then promised that if the financial condition of the company improved and it was profitable for a period of continuous three years, the arrears would be paid. A communication claimed that companies such as Madras Fertilizers Limited had already paid the arrears of the wages revision in 1997 within a year of coming into profit.