Prime Minister Narendra Modi on Monday handed over the cheque of about Rs 224 crore in dues accrued to the workers of Hukumchand Mill, to the official liquidator and heads of the Labour Union of Hukumchand Mill in Indore via video conferencing.The programme marks the settlement of long pending demands of the Hukumchand Mill workers
“I congratulate you all for this program organised on the occasion of ‘Good Governance Day’…Today cheques worth about Rs 224 crores have been handed over. In the coming days, this money will reach our workers,” PM Modi said.”I know you have faced several difficulties. But now, you have a bright future. People of Indore will remember Dec 25 as the day when the workers got justice,” PM Modi said in his virtual address.
Monday’s settlement programme, PM Modi asserted, was the result of the dreams and resolution of the mill workers.The workers of the Hukumchand Mill fought a long legal battle for the payment of their dues after the Hukumchand Mill in Indore was closed in 1992 and went into liquidation subsequently.Recently, the Madhya Pradesh government successfully negotiated a settlement package which was endorsed by all stakeholders including courts, labour unions, the mill workers among others.
The settlement plan involves the MP government paying all dues upfront, taking possession of the mill land, and developing it into a residential and commercial space.During the programme, PM Modi also laid the foundation stone of the 60 MW Solar power plant being established in villages Samraj and Ashukhedi of Khargone district by Indore Municipal Corporation.
The establishment of the new solar power plant, being built at a cost of Rs 308 crore, is likely to help Indore Municipal Corporation save approximately Rs 4 crore per month in electricity bills.For funding the construction of the solar plant, Indore Municipal Corporation issued green bonds worth Rs 244 crore. It became the first urban body in the country to issue green bonds.
A green bond is a debt instrument issued by the central or state government or urban bodies to borrow money from investors with the commitment that the mobilised fund will be spent on climate or ecosystem-related activities.
It received a phenomenal response as people of 29 states subscribed to them with the value of about Rs 720 crore, which was about three times of the initial value issued.
