Shillong, Dec 9: The Meghalaya cabinet, under the leadership of Chief Minister Conrad K. Sangma, has approved a one-time special plan for the industrial closure of Mawmluh Cherra Cement Limited (MCCL). The decision, announced on Monday, includes a comprehensive package for employees and measures to address the company’s liabilities, with an estimated financial implication of approximately ₹100 crore.
Speaking after the cabinet meeting, Chief Minister Sangma outlined the details of the scheme, stating, “We are in the process of closing MCCL and have devised a special plan, including a voluntary retirement scheme (VRS) or ‘golden handshake,’ for the 205 employees of the company. This package was developed after extensive discussions with the employees and their associations.”
He further elaborated, “Today’s cabinet meeting was not to finalize the closure itself but to approve the employee package that initiates the process of closure. Once the scheme is finalized with the employees and their associations, necessary documentation will be completed to formalize the agreement.”
The approved package also aims to address MCCL’s existing liabilities. “The entire package, which includes employee benefits and liability repayment, is estimated at ₹100 crore. The specifics will be ironed out as the final discussions with employees take place,” said Sangma.
The Chief Minister highlighted that the closure process involves multiple procedural steps since MCCL is a public limited company. “After the closure is officially approved, a committee will be set up to oversee the disposal of assets. This, however, will occur only after the official closure is finalized.”
Sangma acknowledged the prolonged nature of discussions with employees over the past two years, emphasizing the government’s efforts to ensure transparency and consensus. “This has been a long and detailed process with thorough consultations. The employees are fully aware of the scheme, and we are addressing any remaining concerns to ensure a smooth implementation,” he said.
This decision marks a significant step toward resolving the financial and operational challenges faced by MCCL, paving the way for its systematic closure.