By IANS,
New Delhi:The Delhi cabinet Monday decided to meet the long-pending demand of the teachers of its technical institutions and polytechnics for pay scales as per the recommendations of the Sixth Pay Commission.
At a meeting chaired by Chief Minister Sheila Dikshit, the cabinet also decided to convert a loan of Rs.239 crore into equity of Delhi Transco Limited (DTL), keeping in view its planned capital expenditure for the October Commonwealth Games.
There are around nine government polytechnics, one government-aided diploma level institution and one university under the state government’s department of training and technical education.
“All members of teaching faculty will benefit from the cabinet decision,” a government official said.
Meanwhile, Dikshit said keeping in view planned expenditure by DTL for the Games and its additional equity requirement, it was decided to covert Delhi government’s loan of Rs.239 crore into equity of Delhi Transco Limited.
“The conversion of loan to equity has been done to improve DTL’s debt-equity ratio. This will also help DTL to raise commercial borrowings at low cost, benefit of which will be passed on to the consumers of Delhi,” a senior official said.