News Karnataka
Tuesday, April 23 2024
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Bengaluru

Cabinet approves Rs 345-cr package for Mysore Paper Mills

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Bengaluru: The State Cabinet approved a Rs 345-crore package to compensate retired workers and those still on the rolls at Mysore Paper Mills (MPM) in Bhadravathi.

According to Law and Parliamentary Affairs T.B. Jayachandra, some 1,000 workers are still on the rolls, while about 1,000 have retired.

The minister said that though the factory has not been functioning, the workers are being paid. “The amount (Rs 345 crore) is towards the voluntary retirement scheme,’’ he said.

He said that about Rs 38 crore has been realized by selling stock, about Rs 70 crore to Rs 80 crore is expected to come from the remaining paper stock at the mills.

“The efforts to lease the mills over the last two to three years too have failed,’’ he said.

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