Breaking: PTCL to Let Go Thousands of Employees Under VSS

Pakistan Telecommunication Company Limited just announced Voluntary Separation Scheme for its employees.

Announcement was made during a press conference in.

Company is hoping that at least 3,000 of its employees will avail the opportunity at a total cost of Rs. 10 billion. An approval from board was obtained in this regard, the media was told.

Maximum compensation that a single employee will get is estimated at Rs. 13.5 Million.

Syed Mazhar Hussain, Chief Human Resource Official PTCL, said that this fourth VSS scheme in PTCL’s history will be effective from November 28th, 2016.

Salient features of VSS scheme for regular PTCL and NCPG employees will be as following:

  • Regular employees will get transition pay multiplied by four multiplied by years in service (Transition Pay x 4 x number of years in service)
  • New compensation pay group (NCPG) employees will get enhanced 6 times of the years in service
  • Minimum length of service for eligibility of pension has been reduced from 20 to 18 years, and retiring employees will get the pensionary benefits of additional 2 years of service
  • Pensionable employees also have the option to choose between a lump sum payment of enhanced commutation or continued pension.
  • NCPG optees will get gratuity up to 4 times of basic salary (gratuity is tax exempted)
  • All the scheme optees will be given leave encashment of 180 days, irrespective of their leave balance
  • Allowances of six months for regular employees and 15 months for NCPG employees are also part of this package
  • In case of early adopter of VSS scheme, an additional bonus of Rs. 200,000 will be paid if employees apply for scheme with-in 20 days
  • If 30% or more employees of targeted population of any region opt for scheme, then an additional amount of Rs. 150,000 will be paid to each optees of that region
  • EOBI pension benefits (as per EOBI act and rules) will also be provided to VSS scheme optees

PTCL said that it will support VSS Optees in getting the jobs in other companies, for which services of leading head hunters will be arranged at company’s expense.

PTCL said that its liability will be restricted to the Head hunters’ commission in case the employee is selected for any job.

Moreover, in order to help the optees in beneficial cash management of their amounts, services of financial advisors (leading cash management companies/funds) will be arranged. Employees can consult them to having various investment options for making a better decision.

PTCL said that a comprehensive plan has been worked out to arrange Vocational Trainings at the expense of the company, enabling the optees to get the required skill set in different fields of their choice for a more affluent future.

It maybe recalled that PTCL offered VSS scheme for the first time in 2008 when over 30,000 employees availed the opportunity. Then another 5,700 employees availed VSS scheme in 2012. The company’s last VSS scheme announced in 2014 was availed by 3,000 employees.

Tech reporter with over 10 years of experience, founder of ProPakistani.PK

  • The package looks too good to be true….but then I wonder how many employees they have with 18+ years of service

  • These haramkhor Ptcl linemen should be fired not paid money, because of them I have disconnected 2 Ptcl lines and 2 broadband connections, and I am glad Ptcl sister company smart did not win the DTH license

    • I am an Executive from PTCL , PTCL ki management cable network per aatae mien namak kae baraber paisae kharch ker rahi hai jis ki wajhae sae network ka bura haal ho gaya hai.yahan tak kae ye cables apni life puri ker kae expire ho chukae hien , yehi etisalat walae apnae mulk UAE mien apni life puri kernae kae her 5 years kae baad apnae sarae cables new cables sae replace kerdetae hien aur yahan ye wohi 1995 kae cables chala rahae expenses on development and maintainance of these old cables network aur staff ko pressurise kertae hien kae kisi terha bhi no. chalao , line man bechara network ki buri condition ki wajha sae aik ka no. band kerta hai tou kisi dosrae ka no. chalata hai , mostly ptcl ka yehi haal hai aur dikhawae kae liyae Eitesalat media per chamak damak walae ads chala raha hai aur chamak damak walae customers services khol rakhae hien , jab kae ander sae nekwork bilkul khokhla ho chuka hai. Eitesalat sae pehlae ka PTCL bhi aap ko yaad ho ga kae kitni achi service thi PTCL ki aur bura bhala aap log line man ko kehtae ho..ho sakta kuch kharab line man bhi hon lakin asal PTCL ki barbadi ki jer yeh arbi hae PTCL ki inside story.

  • Before privatisation there was 78k employees and 9 million (90lacs) landline connections. They removed employees and left with 18k employees. Landline dropped and left with less than 2 million (20lacs).
    Stock rate dropped from 65 to 14 Rs.
    Profit dropped by 29b to 5b.
    800m$ still pending
    Pensioners money still pending
    Dozens of poor employees dismissed for the last 5 years.
    Curroption stories in PTCL is not hidden from anyone. Billions rs corruption.
    ICH cartel issue where Billions of money been transferred to PTCL.
    Charjee illegal services used by PTCL loss of billions to GOVT of pakistan.

    Incompetent management destroying the poor company like termite.
    Can Mazhar Hussain CHRO PTCL explain the above? Or anyone from PTCL can explain the above?
    I believe they cannot even give answer of a single question.

    • You are comparing a situation of monopoly vs free market. Do you know how much PTCL was charging for a local and international calls. Those insane rates due to monopoly of PTCL, there was no option, one had to get PTCL there were very few mobiles. A mobile SIM would cost 3000, how can you compare that with the current market situation

      • That was longtime back. Now there no monopoly except carrier services. All cellular providing high speed internet. Users disconnecting DSL like hell.
        Now very soon PTCL Smart TV will be vanish as DTH in the market now. And Unfortunately PTCL failed to acquire the DTH liecemce,how unfortunate. A gaint is only so called gaint.

  • Yeh pahlay x employees and pensioners ka tu masla solve Kerein . Beghairat PTCL management jhoot aur fraud Kay Liaqat kuch nahe letter . Marketing aur procurement mien arboon rupees ki curroption ker Kay koi in ko poochnay wala nahe. Lanut ptcl aur lanut pakistan govt.

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