NPC seeking joint venture

The Government is calling for private investors to begin a joint venture at the National Paper Company (NPC) after its failure to make profits over the past few years, said NPCL Chairman S. Amarasinghe.

The NPCL, which comes under the Ministry of Nation Building, plans to semi-privatize its operation while providing Rs.700,000 each in compensation to the 649 employees being retrenched.The NPC will look for new investors and would employ new staff for the its joint venture while the Government will have discussions to grant larger compensations to the employees being removed under the Compulsory Retirement Scheme (CRS).However, unionists complain that they are being removed illegally and are not receiving enough compensation for the loss of their jobs. Inter-company Employees Union branch president Abeywardena Gunadasa said due to the rising cost of living the employees would need better compensation.

Unionists are demanding at least Rs.1.5 to Rs.2 million for each employee as compensation in view of not only the cost of living but the psychological effects of being removed from their jobs. The NPC is terminating the jobs of all its employees on March 31 while the Army would be providing security for the premises.

Mr. Gunadasa said that they would be forced to a protest if their demands were not met. However, Mr. Amarasinghe said the Labour Ministry was holding discussions with the unionists on this regard and would decide on a suitable package compensation soon.