Hyderabad: Over five lakh AP state employees are losing a total of Rs 9.33 lakh every day, or Rs 28 crore a month, as the state government has delayed paying arrears of the Pay Revision Commission.
In February, the government had announc-ed that the new paysc-ales, recommended by the PRC, would be impl-emented from June 2, 2014. The arrears would be credited into the employees’ General Provident Fund accounts.
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. A senior official said the government should have announced a deadline to pay the arrears.
Download the all new Deccan Chronicle app for Android and iOS to stay up-to-date with latest headlines and news stories in politics, entertainment, sports, technology, business and much more from India and around the world.
