ONGC claims about losing money due to low production cost in Assam
Oil and Natural Gas Corporation (ONGC) stated that it is hiring locally and is investing heavily in the local community in Assam.
Maharatna Oil PSU, ONGC Ltd said that a lot of money is losing out in state of Assam because of low production and high number of employee, amid solving the protest of employees over stoppage of contentious overtime payment.
Oil and Natural Gas Corporation (ONGC) stated that it is hiring locally and is investing heavily in the local community in Assam.
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ONGC Purvanchal Employees' Association (OPEA) belonging to Assam Asset in Nazira contemplated that the peaceful demonstration has been primarily initiated as a protest against discontinuation of a particular overtime payment, which was not admissible.
The company stated that it is losing money while continuing its operations at Assam for the last few years which is one of the significant reasons being low production and high manpower.
Further it claims about the medical facilities being stopped was factually incorrect. In order to mitigate misuse and malpractice related to a unique welfare facility provided to company’s service as well as to its former employees, there is a change from direct credit to reimbursement mode.
Amid financial pressure that leads to rising production costs in the Assam Asset, the PSU Company said it continues to maintain a significant presence in the region.
The company re-affirmed to its commitment to Assam through a wide range of Corporate Social Responsibility (CSR) initiatives which consists substantial investment in education, healthcare, infrastructure, and skill development. One of the flagship project is Siu-Ka-Pha Hospital at Sivasagar providing healthcare to the locals."
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The situation would be stabilized through dialogue channels open between management and employee representatives.
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