All India Power Engineers Federation (AIPEF) has demanded that strict action should be taken against chairman and Managing Director of UPPCL and other bureaucrats  for their involvement in investing the  employee’s pension funds in three housing companies violating the norms for investment . The trust invested  Rs. 4122 crore in DHFL between March 2017 and December 2018.

Shailendra Dubey Chairman AIPEF said that the employees’ pension fund be retrieved by the government as it is the responsibility  of the  government to pay defaulted amount  and top officials who were directly or indirectly  responsible for the present mess should be brought to book. Power employees of Uttar Pradesh have given 48 hours  work boycott on November 18 and 19.

V K Gupta Spokesperson  AIPEF said that  enraged over the alleged Rs. 2300 crore  PF scam involving investment of their hard earned money in tainted Dewan Housing and Finance Corporation Limited (DHFL) employees are daily boycotting work for two hours . The employees are protesting daily demanding transfer and  arrest of UPPCL chairman to pave way for the impartial enquiry.

The economic offences wing began investigation in violations in the investment of provident fund money in listed unsecure finance institutions. AIPEF welcomes UP government decision of  CBI enquiry in to the provident scam.

AIPEF has directed all its constituents to ask every state authority and CMD of power utilities to give details of investment of employees provident money corpus in writing.