KOCHI: The State government informed the court that the pension arrears of former KSRTC employees will be paid very soon. The government will take over the liability of pension till July 2018.

Rs 600 crore loan will be taken to pay off pension arrears. For this, a decision was taken in the meeting convened by the chief minister on February 7 to form a consortium including cooperative banks. The government counsel submitted this in the court in response to a petition against non-payment of pension arrears. The court, however, asked the government to submit a detailed affidavit explaining the above facts.

In the meeting held in the presence of the chief minister on Thursday, it was decided to pay off five months’ pension arrears and this month’s salary. The government will take loan from Cooperative banks to pay off pension arrears. Rs 224 cr arrears will be paid off as the first instalment within a week. Total pension arrears will be paid off this month itself.

 For disbursing January salary, Rs 70 crore financial help will be given by the government.