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Government fails to frame concrete policy for erstwhile JAKFED employees

Since the time when J&K Cooperative Supply & Marketing Federation (JAKFED) was closed, the future of employees of JAKFED is in jeopardy. Jammu and Kashmir government has failed to decide the fate of employees of erstwhile JAKFED.

Government has not yet setup any policy for these helpless employees. Also, there is no progress on the liquidation of assets which otherwise is imperative to clear the pending liabilities. The organization was winded up in 2019 and it was directed that a committee will be framed which will coordinate the winding up of JAKFED and come up with a detailed winding up plan including an appropriate VRS for employees of the Federation.

But as per Daily Excelsior, even after nearly three years neither the assets of the erstwhile JAKFED have been liquidated nor the fate of the employees decided although some exercise has been conducted in this direction by the Cooperative Department. There are around 11 assets of JAKFED at different locations particularly in Jammu and Srinagar and their valuation has been conducted by the Cooperative Department. unless all the assets are liquidated the Cooperative Department will not be in a position to clear the liabilities 

 A committee was framed to make an appropriate Voluntary Retirement Scheme (VRS) for the employees of erstwhile JAKFED. The committee came up with two options which included absorption of willing employees of erstwhile JAKFED in other departments strictly as per the rules on the subject and providing benefit of VRS to other employees.

Registrar Cooperative Shafqat Iqbal told Excelsior that liquidation of assets was taking time due to certain issues and will be solved soon.