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Cabinet approves closure of Handicrafts and Handlooms Export Corporation
The approval will benefit the government exchequer in reducing recurring expenditure on salary and wages of the sick CPSE which is not in operation and earning no income.
BusinessToday.In | March 16, 2021 | Updated 17:46 IST
The Union Cabinet met under the chairmanship of Prime Minister Narendra Modi.
The Union Cabinet, chaired by Prime Minister Narendra Modi, on Tuesday approved the closure of loss-making Handicrafts and Handlooms Export Corporation of India Ltd (HHEC).
HHEC is a central public sector undertaking (CPSE) under the administrative control of Ministry of Textiles.
There are 59 permanent employees and 6 management trainees serving in the Corporation. All the permanent employees and management trainees will be given an opportunity to avail the benefit of a Voluntary Retirement Scheme (VRS) as per norms laid down by the Department of Public Enterprises, the government s ....

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