Takoradi, Nov. 17, GNA- The scheduled official handing over of the divested Western Veneer and Lumber Company (WVLC) Limited to ASD Lumber Ghana Limited has been postponed. According to a source close to the management of WVLC on Friday, the ceremony was postponed because discussions on the proposed transitional arrangements have not been concluded. He said representatives of the Local Workers' Union, Trade Union Congress Woodworkers Union, WVLC management; the Divestiture Implementation Committee (DIC) and the Ministry of Lands, Forestry and Mines have to meet to initiate negotiations on severance award and other end of service benefits.

The source said a definite timetable for payment of all entitlements before issuance of the Notice of Closure should be agreed upon. He said it was expedient for the proposed labour and financial audit of the company to precede the handover date of the company. Furthermore, the source said selection of the skeleton staff; their terms, duration and definition of their areas of responsibility should be decided on by management and the DIC.