Section 4: Terms and conditions of service of employees

4. Terms and conditions of service of employees.___ (1) No person transferred to the Company pursuant to sub-section (2) hereinafter referred to as a “Transferred Employee”, shall be entitled to any compensation as a consequence of transfer to the Company: Provided that the Federal Government shall guarantee the existing terms and conditions of service and rights including pensioner benefits of the Transferred Employees to which they were entitled on the date of their transfer to the Company. (2) The terms and conditions of service of any Transferred Employee shall not be altered adversely by the Company except in accordance with the laws of Pakistan or with the consent of the Transferred Employees and the award of appropriate compensation. (3) Under the order vesting property of the Corporation in the Company, the Federal Government shall require the Company to assume the responsibility of pension benefits of relevant employees and the Company shall not alter such pension benefits without the consent of the employees concerned and the award of appropriate compensation.

Effective date: 2000-01-01

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