Himachal cabinet nod for investing contributory pension fund in markets

By: Ravinder Makhaik

Revised pay scales for contractual employees, Rs 200 Cr bio-technology park approved

Shimla: The Himachal cabinet today approved revised pay scales to contractual employees, approved handing over management of the contributory pension fund to a trustee bank for gaining by market linked schemes, approved establishment of a Rs 200 crore bio-technology park and gave its nod to draft of the excise bill 2009.

At the cabinet briefing Sarveen Chaudhary, minister for social welfare stated that the under the revised pay scales contractual employees working in different departments would get their increase emoluments for the specific category from 1st December, 2009.

Presided over by chief minister Prem Kumar Dhumal, the cabinet decided to hand over the accumulated Rs 110 crore from contributory pension fund that was started in 2003 for professional management to SBI, the trustee bank for investment in market linked instruments.

There are about 37000 contributory pension fund subscribers in the state and the government has not taken on any pension liabilities for its employees since the new scheme was introduced in 2003.

This fund was lying with General Provident Fund and would be paid a 8% interest for the period it has been under this head, stated finance secretary

The cabinet granted approval for establishment of a Bio-Technology Park on PPP Model at Aduwal (near Nalagarh) in district Solan at an estimated cost of Rs 200 crore. The department was authorised to invite bids from private developers for setting up of proposed park.

For basic infrastructure development of the park like road, power, water, site development, clearances and civil infrastructure for BT Incubator the government approved release of Rs 14 as part of its share.

It approved the Draft Himachal Pradesh Excise Bill, 2009, for introduction in the coming Winter Session of Himachal Pradesh Legislative Assembly.

To be introduced in the upcoming winter session of the assembly, the cabinet approved draft of the HP Excise Bill, 2009.

To strengthen Integrated Child Development Services network, the cabinet approved creation of 677 posts of helpers for Mini Aanganwadi Centres and 138 additional posts of Aanganwadi Workers for effective implementation of the nutrition programme to the children and lactating and pregnant mothers.

Contract period of 64 Dental medical officers was extended to March, 2010 while simultaneously starting the recruitment process afresh to fill up vacancies through designated recruitment agency was approved.

The Nagar Panchayats of Nagrota Bagwan, Baddi, Ghumarwin, Manali and Rohru were upgraded to Municipal Councils.

It consented to fill up vacancies of Director (Electrical), Director (Civil) and Director (Finance) in the HP Power Corporation Limited.

The cabinet decided to name the reservoir of the upcoming Renuka Dam project over the presiding deity as ‘Bhagwan Parshuram Sagar.’