Thiruvananthapuram: The state government employees will not be given advance salary before Christmas due to severe financial crisis. They will not get two months' salary, but the normal salary will be given on December 1 itself. Finance Minister T.M. Thomas Isaac said here on Thursday that last year also no advance salary was given before Christmas. The unscientific manner in which GST was implemented had affected the state's revenue. "Some have demanded advance salary. A decision on this would be taken later," he added.
The meeting of the Kerala Infrastructure Investment Fund Board (KIIFB) held here under the chairmanship of Chief Minister Pinarayi Vijayan decided to form an asset management company for mobilising funds to overcome the financial crisis. Discussions will be held with merchant banks for issuing masala bonds after a tender. Sanction has also been given to take affordable loans from banks, Mr Isaac said.
The board meeting also approved new projects worth Rs 1391.96 crore. This included an addition of projects worth Rs 1,011.50 crore apart from the already sanctioned fifth phase infrastructure projects. With this, projects worth Rs 17,989.11 crore were approved in total, said Mr Issac. These comprised Rs 241.72 crore for Cusat, including Rs 98. 48 crore for setting up a modern laboratory, Rs 301.17 crore for acquiring land for life science park, Rs 190.16 crore for Angamali bypass, Rs 133.24 crore for Perumbavoor bypass, Rs 201.67 crore for Punalur-Kollayi hill highway and Rs 324 crore for the KSRTC to purchase 1,000 new diesel buses.
