THIRUVANANTHAPURAM: Offering much relief to the retired employees of the KSRTC, the state government on Tuesday formally launched the disbursal of pension arrears, by roping in the cooperative sector. The funds Rs 218 crore for clearing the arrears were mobilised through the cooperative banks, including Primary Agriculture Credit Societies (PACS).
Inaugurating the function, Chief Minister Pinarayi Vijayan said the entire pension dues are being disbursed at one go by February 28 as announced earlier with the help of the cooperative sector.“The cooperative sector with its decision to step in to help the KSRTC, a major PSU in the state, is proving its mettle and commitment to society. As the KSRTC has no fund of its own to pay the dues, the consortium of cooperative banks, including select primary cooperatives, came forward to support the PSU. The decision may not be acceptable to those who want the state PSUs to be crumbled,” he said.
Referring to Opposition leader Ramesh Chennithala’s remarks that the cooperative sector is also facing threat along with the KSRTC, he said some people always want to be doomsayers.“In our state there are people who always want to find fault with any good thing taking place. They have a tendency to make wrong opinion about development. We can only sympathise with them,” he said.He claimed that cooperative sector was strong enough to take up any kind of challenges.The consortium of cooperative societies will fund the pension disbursal for six months.
The chief minister said the allegation that the cooperative banks would be benefiting out of the funding was wrong as it was lending the fund at a lower interest rate than the prevailing market rate. “It was out of their social commitment that the cooperative societies came forward to support the KSRTC,” he said.
Transport Minister A K Saseendran presided over the meeting held at Thampanoor bus depot.
Cooperation Minister Kadakampally Surendran, KSRTC managing director A Hemachandran and others attended. Pensioners will have to open accounts with select cooperative societies or banks under the purview of their pension disbursing depots. Besides clearing the dues, the societies will continue to pay pension for the next five months without default.