GoI decides closure of BWEL

The Government of India has decided to close Bharat Wagon and Engineering Company Limited (BWEL)- a Central Public Sector Enterprise (CPSE) under Ministry of Railways.  As many as 626 employees of BWEL will be benefitted from the voluntary retirement scheme to be offered at 2007 pay scale. The Government will have to provide one time grant of 151.18 crore towards severance package and for clearing the current liabilities of the company.