Delhi Metro has suffered a loss of nearly 1300 crores since the closure of its services. Due to the pandemic lockdown, the DMRC is put on a halt.
Facing unusual financial loss due to the non-operation of Delhi Metro from more than five months, the Delhi Metro Rail Corporation took a big decision. On Tuesday, the authority announced to chop the perks and allowance of its workers by 50%. This will come to effect from the month of August.
In an internal order issued to its employees, DMRC said in view of the extremely unfavorable economic condition due to the non-operation of metro services.
Further, they added that it has been concluded, that the perks and allowances shall be lessened by 50 percent w.e.f. (with effect from) the month of August 2020, till further order.
Accordingly, starting with the salary for the month of August 2020, perks and compensations shall now be paid at 15.75 percent of the basic pay.
The order further said that all the sanctions relating to advances, multipurpose advance, laptop advance, festival advance, are put on hold till further notice.
However, the advance already sanctioned shall remain. As they receive a request, DMRC will disburse it. Advances for Medical Treatment, Travel Allowance, Dearness Allowance, and Composite Transfer Grant shall continue. These kinds of allowances will still facilitate employees.
According to the sources, the Delhi Metro has about 14500 employees. The revenue received from non-ticketing sources were also running out, it added.
Delhi Metro’s loan
Recently, the center has asked DMRC to ask financial assistance from Delhi Government. And, repay the soft loan taken from Japan International Corporation Agency for several projects. The DMRC has a loan amounting to 35198 crores from JICA.
We had communicated the ministry recently. The same is being assessed and processed, DMRC Executive Director Anuj Dayal had said on August 6 as reported by news agency PTI.
Delhi Metro took the loan with nominal interest rates. The rates vary from 1.2-2.3%. The loan was repayable within 30 years with a moratorium of 10 years. Till now, DMRC paid 3337 crores and the outstanding balance was of 31861 crores.