• Skip to main content
  • Skip to primary sidebar
  • Home
  • Aicpin
  • Recent Post
  • Pay Matrix
    • Defence Personnel
      • MNS Officers
  • Recent Govt Orders
    • Dopt orders
    • Finmin orders
  • DA From January 2021
  • Holiday list 2020
Govtempdiary

Govtempdiary

Govtempdiary is leading Central government employees news provider

You are here: Home / PIB NEWS / Cabinet approves Closure of loss making Bharat Wagon and Engineering Company
This image has an empty alt attribute; its file name is b_new.gif Railways:Regarding Ex-gratia payment Rs.25,00,000
This image has an empty alt attribute; its file name is b_new.gif AICPIN for the month of November 2020
This image has an empty alt attribute; its file name is b_new.gif LTC cash voucher scheme Calculator
This image has an empty alt attribute; its file name is b_new.gif Expected DA from January 2021 Calculator
This image has an empty alt attribute; its file name is b_new.gif List of Kendriya Vidyalaya Schools 2021

Quick links
Hot newsDopt orders
Recent govt ordersRecent post

Cabinet approves Closure of loss making Bharat Wagon and Engineering Company

September 25, 2018 rajasinghmurugesan

Cabinet approves Closure of loss making Bharat Wagon and Engineering Company

The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Shri Narendra Modi, has approved the proposal of Ministry of Railways to close the Bharat Wagon and Engineering Company Limited (BWEL) – a Central Public Sector Enterprise (CPSE) under Ministry of Railways.

626 employees of BWEL will be benefitted from the voluntary retirement scheme to be offered at 2007 pay scale. The Government will have to provide one time grant off 151.18 crore towards severance package and for clearing the current liabilities of the company.

This measure will stop flow of financial support from public funds for carrying on the operations of sick/loss making BWEL resulting in savings for the Government.

The implementation will be done as per the timelines prescribed in the guidelines issued by Department of Public Enterprises (DPE) on time bound closure of sick/loss making CPSEs.

In view of the continues poor physical and financial performance of the company for more than 10 years, in spite of financial assistance and other support provided by Ministry of Railways combined with low probability of its revival in future, Bharat Wagon and Engineering Co. Ltd. is being wound up.

Background:

BWEL was incorporated on 4th Dec’ 1978 as a CPSE after taking over two sick private sector companies – Arthur Butler & Company, Muzaffarpur and Britannia Engineering Company, Mokama. The Company was referred to BIFR (Board for Industrial and Financial Reconstruction) in December, 2000 and was declared sick in the year 2002. The Company continues to be a sick Company since then. The administrative control of the company was transferred from Department of Heavy Industry (DHI) to the MoR in August, 2008, as approved by the Cabinet Committee on Economic Affairs. The company is engaged in the manufacture and repair of wagons, and is having two manufacturing units, at Mokama and Muzaffarpur in Bihar.

Source : PIB

Related posts:

  1. Government Formulating Policy for Raising Retirement age(58 to 60) in Sick & Loss Making CPSEs
  2. CPSEs  – Revised guidelines for closure
  3. Payment of statutory dues, salary and wages in sick / loss making CPSEs
  4. Payment of statutory dues, salary and wages in sick/loss making CPSEs
  5. Cabinet approves Constitution of Indian Naval Material Management Service (INMMS) as an Organized Group ‘A’ Engineering Service 
  6. Closure of HFL, CPSE under Department of Chemicals & Petrochemicals – PIB
  7. Cabinet approves listing of 11 CPSEs on stock exchanges
  8. Revival/Restructuring of Heavy Engineering Corporation Limited, Ranchi
  9. Cabinet approves ABRY to boost employment – PIB
  10. Cabinet approves additional funding of up to 3 lakh crore through ECLGS
  11. Early Closure of Offices on 1st October, 2014 in connection with the national wide launch of Swachch Bharat campaign by the Hon’ble Prime Minister of India
  12. PIB: Cabinet approves revised OM to the Cabinet Note on the reservation for EWS
  13. PIB – Cabinet approves Mega Consolidation in PSBs with effect from 1.4.2020
  14. Cabinet approves Pan-India implementation of Maternity Benefit Program
  15. Cabinet approves first-ever three way merger of Vijaya, Dena and Bank of Baroda
  16. Cabinet approves Wage Policy for the 8th Round of Wage Negotiations for workmen in Central Public Sector Enterprises
  17. Abolition of 9,304 posts in Military Engineering Service – PIB
  18. Cabinet approves setting up of 50 new Kendriya Vidyalayasin the country under Civil / Defence Sector
  19. Cabinet approves Regularization of certain allowances over & above 50% ceiling prescribed by DPE – PIB
  20. Cabinet approves Cadre Review of 8 organized Group ‘A’ Services in Railways – PIB

Filed Under: PIB NEWS September 25, 2018 Leave a Comment

LTC cash voucher scheme 2020
LTC cash voucher scheme 2020

PIB – “Pension Payment Order” (PPO) promises ease of living for senior citizens: Dr Jitendra Singh

January 18, 2021 By selva 2 Comments

“Pension Payment Order” (PPO) promises ease of living for senior citizens: Dr Jitendra Singh Ministry of Personnel, Public Grievances & Pensions Posted On: 17 JAN 2021 5:16PM by PIB Delhi Union Minister of State (Independent Charge) Development of North Eastern Region (DoNER), MoS PMO, Personnel, Public Grievances, Pensions, Atomic Energy and Space, Dr. Jitendra Singh […]

Finmin Order – Standard Operating Procedure for Redressal of Public Grievances

January 18, 2021 By selva Leave a Comment

Finmin Order – Standard Operating Procedure for Redressal of Public Grievances File No. M-51011/1/2020-CDN-CGA/1066Ministry of FinanceDepartment of Expenditure,Controller General of Accounts Mahalekha Niyantrak BhawanE-Block, GPO Complex, INA, New DelhiDated 13th January,2021 OFFICE MEMORANDUM Subject: Standard Operating Procedure for Redressal of Public Grievances-reg. In order to enhance the effective grievance redressal mechanism in the CGA office, […]

PCDA – Functioning of office with 100% strength

January 13, 2021 By GEDWEBZIP Leave a Comment

All the officers and staff members will attend their respective offices with 100% strength. It is reiterated that instructions on COVID-19 protocol and preventive measures issued by MHA and Ministry of Health and Family Welfare from time to time must be strictly complied with

CPAO : Submission of Life Certificate by NPS-AR pensioner through Jeevan Pramaan

January 13, 2021 By GEDWEBZIP Leave a Comment

Submission of Life Certificate has been developed in Jeevan Pramaan for NPS-AR pensioners and this interface is now live for submission of Digital Life Certificate (DLC) through Jeevan Pramaan

High Court Order : Freezing of Industrial Dearness Allowance w.e.f. 01.10.2020

January 9, 2021 By GEDWEBZIP Leave a Comment

Regarding freezing of Industrial Dearness Allowance w,e.f. 01.10.2020 in respect of Executives and Non-Unionised Supervisors of CPSEs following IDA pay pattern

Grant of Advance – Special Festival Package(10,000/-) to Govt Servants

January 7, 2021 By GEDWEBZIP Leave a Comment

Grant of Advance – Special Festival Regarding an Interest Free Advance of Rs 10,000/- on account of Special Festival Package and Application For claiming Special Festival Package

Interest rates for National (Small) Savings Schemes – SB Order No. 38/2020

January 6, 2021 By GEDWEBZIP Leave a Comment

The rate of interest on various Small Savings Schemes (National Savings Schemes) for the fourth quarter of financial year 2020-21 (starting from 1st January, 2021 and ending on 31th March, 2021)

Grant of Pongal Prize to ‘C’ and ‘D’ Group Pensioners/All Family Pensioners – TN Govt Order

January 5, 2021 By GEDWEBZIP Leave a Comment

This order shall also be applicable to all ‘C’ and ‘D’ Group provisional pensioners. The Pongal Prize amount shall not be admissible to those employees who retire on or after 04-01-2021

Adhoc Bonus for Pongal festival 2021 – TN Govt Order

January 5, 2021 By GEDWEBZIP Leave a Comment

The Ad-hoc Bonus shall be computed on the basis of actual emoluments as on 31st March 2020. The amount of ad-hoc bonus shall be calculated as if monthly emoluments were Rs.3,000/- per month

More Posts from this Category

List of Holidays during the year 2021 for central government offices in Tripura

Regarding list of public and restricted holidays during the year 2021 for central government offices located in Tripura

Holiday list in the State of Haryana during the Calendar year 2021

Holiday list both public holidays and restricted holidays in the State of Haryana during the Calendar year 2021, dated December 3, 2020

Recent comments

  • Dev on LTC Leave Enhancement Calculator For Block Year 2018-2021
  • KD on PIB – “Pension Payment Order” (PPO) promises ease of living for senior citizens: Dr Jitendra Singh
  • Gautam Sengupta on Expected Dearness allowance [DA] from January 2021 Calculator
  • Gopalaswamy Honnavalli on PIB – “Pension Payment Order” (PPO) promises ease of living for senior citizens: Dr Jitendra Singh
  • Anonymous on Annual increment while on leave 1st July 2020
  • Amit kumar das on Posting/transfer of defence civilian employees on compassionate grounds or on mutual basis
  • Anonymous on Posting/transfer of defence civilian employees on compassionate grounds or on mutual basis
  • Sujit Kumar Rai on LEAVE RULES
  • sujit kumar rai on LEAVE RULES
  • Davinder on Posting/transfer of defence civilian employees on compassionate grounds or on mutual basis

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Primary Sidebar

Search

calcuators

  • Expected DA Calculator January 2021
  • HRA calculator 2020 (DA>25%)
  • Tax benefit calculator 2020
  • Expected DA For Bank Employees From November 2020
  • 7th pay commission calculator [updated]
  • Promotion/MACP Option form Calculator
  • 7th Pay Commission Pension Calculator
  • Bonus Calculator 2020
  • LTC Leave Enhancement Calculator For Block Year 2018-2021
  • LTC cash voucher scheme Ready reckoner

Pay Matrix table

  • Defence Personnel
  • MNS Officers
  • Tamil nadu
  • Rajasthan
  • Odisha
  • Gujarat
  • Haryana
  • Jharkhand
  • Madhya Pradesh
  • Nagaland
  • Tripura
  • Uttrakhand
  • Assam
  • Bihar

CSD Price list

  • CSD Car Price List 2021
  • Maruti Suzuki CSD Car Price List 2021

KVS Schools list

  • List of Kendriya Vidyalaya Schools
Copyright© 2010–2021

Central Government Employees News - Govtempdiary