No funds to disburse salary; Devaswom Board in severe financial crisis
Thiruvananthapuram: The Travancore Devaswom Board (TDB) is facing severe financial crisis. It is learned that the Board may not be able to disburse salaries to its employees.
Reportedly the government has not provided the budget allocated fund of Rs 100 crore to the Board. Even though it was said that the first instalment of Rs 20 crore would be given to the TDB soon, no action was taken in this regard.
The crisis that sprang since the entry of women aged between 10 and 50 into the Sabarimala temple, has put the Board in a tight spot. Also the unnecessary PWD works undertaken using the Board’s reserve fund at Dhanalakshmi Bank and people not taking part in auctions in Sabarimala added to the crisis. Out of the 212 auctions, only 21 were successful.
Surpassing norms, a bank loan of Rs 30 crore was taken by pledging the Board’s deposit money which in turn led to TDB not obtaining any interest from the deposit.
The TDB requires atleast Rs 26 crore per day for its smooth functioning including disbursement of salaries, pensions, day-to-day expenses and other activities. If the situation is not resolved, TDB will not be able to provide salaries to its employees next month.
The state government had stated that no matter how severe the crisis because of women entry may be; it will extend all help to the Board.