take this opportunity to
voice berdland now my expectations
I also like to voice berd
insolvency fund. I think the authority should
for the
consider
extending the ambit of the fund to cover severance pay.
•
We must realise that when an employer goes insolvent, the
which
will likeler greatest amount of money he owes his employees tends to be
be the
then
y/he
be]
that for severance pay. Severance pay is an indemnity to
the workers for the years of hardwork, they put in for
Under existing Ordinance, the insolvency
owed
their employers.
fund can only be used for eld/wages and payment in lieu of wages and payment in lieu of
notice. This is neither adequate nor fair. Moreover, as
the
to far as I understand, insolvency fund
insolvency fund is quite capable →
terms of financial
cover
Fesources
and management
SOUICE
of
absorbing additional expediture incurred by the extension
Kaddi
of its ambity in terms of financial and management
resources.
The Bill now introduced by the Administration is good for
the
enhancing its effectiveness of
can
the fund, but I stil:
I still see
some rooms for further. improvement. I urge the Government
to review the necessity of extending the coverage of the
fund as soon as possible.
Sir, with these remarks, I support the motion.