Over five lakh AP state employees are losing a total of Rs 9.33 lakh every day by more than five lakh AP state employees, or Rs 28 crore a month, as the state government has delayed paying arrears of the Pay Revision Commission.According to the estimates of the finance department, the government has to pay Rs 3,500 crore as PRC arrears.
Even after nine months, the government has not paid the arrears due to its ongoing financial crisis.Employees get 8.5 per cent interest on their GPF money. If the government had to credit Rs 3,500 crore in the GPF, the employees would have together got Rs 28 crore per month in interest. The amount from February totals an estimated Rs 250 crore.
41 total views, 1 views today