KARACHI, Dec 12: The Sindh finance department has released an amount of Rs100 million for payment of retirement dues/golden hand-shake to ex-employees of the Sindh Road Transport Corporation.

The individual cheques would be issued to ex-employees as soon as the amount is transferred by AG Sindh in the relevant personal ledger account of transport department at Hyderabad.

The SRTC was closed in 1999 under an agreement between employees and the government. The Government had decided to raise funds from the auction of SRTC properties.

The process of auction of SRTC properties was stayed by the Sindh High Court, Karachi, on a petition of Shehree which delayed the payment of dues to ex-SRTC employees.

In view of the alarming situation caused by delay in the disposal of SRTC assets (Land & Building) due to status quo, the government of Sindh provided a loan of Rs24.27 million in June 2001, and 10 per cent of golden hand-shake was disbursed accordingly. A total of 42 ex-employees with lowest payable against gratuity, GPF, golden hand-shake leave encashment were also paid off.

Again the government released Rs 100 million in September 2001.

Now the government has released Rs100million from which the balance amount of golden hand-shake would be paid off fully to ease hardships of the ex-SRTC employees.—PPI