Further to the post of 4/4/17 above following **zFM current report has relevance as BCL are both shareholders in and creditors of Pula Steel.....
PULA STEEL PAYS OUTSTANDING SALARIES OF FORMER EMPLOYEES
FRIDAY, 7 APRIL, 2017 - 15:00
Pula Steel Judicial Manager, Vijay Kalya-naraman, says he has managed to pay off the outstanding salaries of former employees following the termination of their employment contracts last month.
Vijay decided to lay off the employees and place the steel plant under care and maintenance since production stopped in October last due to non-compliance with health and environmental standards.
The company also faced mounting debts and has lost its fleet of vehicles to creditors and its power supply has been disconnected.
Vijay says efforts to revive the steel processor are ongoing but may take some time as there are a number of loose ends to tie up.
He explained that one of the greatest challenges is to source expatriate skilled manpower to run the plant, saying he is in negotiations with an Indian company to source the manpower once everything is in place.
News
Botswana
Regards to all.
BCL saga, page-67
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