Air India colonies which are home to over 7,000 residents soon might witness a drastic change. The residents would have to vacate the staff quarters, six months after Airline’s divestment o the property is monetized or whichever happens first.
The ministerial panel formed to work out modalities of the disinvestment took this decision this month. Air India Provident Fund Trust will also be transferred to the Employees Provident Fund Office (EPFO) after divestment.
The Centre has agreed to accept the cost of liquidation loss on account of transfer to EPFO as well as encashment of leaves, it said citing sources. They are all ready to accept the inclusion of employees in CGHS too.
Union Civil Aviation Minister Jyotiraditya Scindia said the disinvestment process of national carrier Air India was on the “right track”. The disinvestment process of Air India is on the right track. For this, the financial bids should come in by September 15 and after that, the next move would be initiated, he told reporters.
According to the report these decisions were taken by the Air India Specific Alternative Mechanism (AISAM). Air India will further lay down the process of vacation of residential houses, transfer to EPFO, and liquidation.
However, Air India employees had in 2020 petitioned the Civil Aviation ministry to continue medical, leave encashment and provident fund benefits for retired employees in their current form even after privatisation.
