Amid the large income losses incurred by the Assam Tea Company Restricted (ATCL) – a tea business board yearly since many years, the state Authorities is now planning to lease-out its tea gardens & factories.
Experiences knowledgeable that atleast 15 tea gardens together with a number of factories of ATCL have incurred an annual lack of round Rs 70 Crores, as a result of financial downturn & escalation in labour price.
With atleast 16,000 staffs & staff, their liabilities, together with Provident Fund (PF) and different dues stand at Rs 500 Crores. Whereas, the legal responsibility of one other Rs 500 Crores at present stands in type of authorities loans.
Lately, the tea board has floated a young inviting the engagement of transaction & bid-process administration providers with the intention to lease-out involved factories to eligible bidders.
The federal government will leasing out such loss-incurred gardens and factories, thereby making certain that pursuits of staff are additionally fulfilled in the course of the course of.
In accordance with stories, all liabilities shall be cleared until the date, these gardens are taken-over by non-public events.
Its worthy to notice that in a current survey performed by the North Jap Tea Affiliation (NETA) relating to the revenue-loss for tea business in Assam, it was discovered that tea business within the northeastern state has incurred an enormous income lack of Rs 1,218 crore – 80 million kg on the price of Rs 152.26 per kg – as a result of nationwide induced COVID-19 lockdown, as on April 15, 2020.