Uralungal Labour Contract Cooperative Society banks on its history to survive crisis

KOZHIKODE: The  Uralungal Labour Contract Cooperative Society banks  on its chequered 100-year history to tide over the crisis created by demonetisation. The iconic company  keeps up the morale of its 4,000 employees  by sharing with them the experiences of its worst  days   when it survived with the cooperation of the  workers who went without wages for months together.   

The  ULCCS,  one of the largest cooperative ventures in the country and one of the leading players in the construction sector,  requires   '25 lakh daily  to settle the wages of the workers and meet other basic  expenses.  The funds of the company, which  has undertaken  major government construction works, have been held up in banks for the last two weeks.    Mr  Ramesh Paleri,  ULCCS president,  told DC, “shortage of money or its unavailability is not new to ULCCS.  Since  its formation,  the PWD has made us  wait for approving the bill or settling the amount for long.

At that time employees had to struggle without salary but due to their commitment to  the society, they faced the hardships boldly.  We share these experiences with them  and  allay their worries.  We have an understanding team though  taking care of the  migrants is a difficult  task,”  he  said. At present, the company utilises the money that can be withdrawn from its  accounts in various banks, but it is limited.   Major transactions are  processed through net banking, but this not possible in  settling the wages of daily workers, Mr Paleri said.