Chandigarh Municipal Corporation is facing a deep financial crisis and is unable to pay salaries to the employees. The situation is so serious that the corporation has now come to the point of taking a loan. The corporation administration has started the process of taking a short-term loan of crores from the banks, so that salaries can be paid to the employees.
The employees of the Municipal Corporation used to get salary by the last date of every month, but for the last few months, it has been getting delayed continuously. This time, even after 12 days, the salary was not paid. The amount received by the corporation from the administration has already been exhausted and there is no possibility of getting any additional assistance at the moment.
Considering taking loan from CHB as well
Given the current financial situation, the Municipal Corporation is in the process of taking a loan. For this, discussions are being held with different banks. According to sources, talks are going on to take a short-term loan at a low interest rate. Apart from this, it has also been suggested to take a loan from Chandigarh Housing Board (CHB). However, the option of issuing bonds is currently considered difficult.
