Kochi: The Chairman and Managing Director (CMD) of the Kerala State Regional Transport Corporation (KSRTC) on Thursday issued an extraordinary order stating that staff salaries would be distributed in instalments.
The order further said those who don’t want their salary to be paid in instalments should submit an application stating the same before February 25.
The first instalment will be paid on the fifth of every month using the money in Corporation’s accounts and by availing of the overdraft facility.
The second instalment will be disbursed based on the assistance received from the government.
Meanwhile, the High Court directed KSRTC to pay Rs 1 lakh each to retired employees within 45 days. The remaining amount should be disbursed on a priority basis.
KSRTC told the court that it requires Rs 8 crore to pay off 50 per cent of the petitioners’ pending benefits. However, the court suggested that KSRTC should sell off its assets to clear the due of those retired.
The bench also said if the corporation cannot pay benefits on time, then it should retain the employees and not allow them to retire.
Reminding KSRTC that the order was to reserve 10 per cent of employees’ salaries, the court said the same should come into effect from March.