<h1>Government Approves Closure of Bharat Wagon and Engineering Co., Offers Voluntary Retirement to 626 Employees with Severance Package.</h1> The Cabinet Committee on Economic Affairs, led by the Prime Minister, has approved the closure of Bharat Wagon and Engineering Company Limited (BWEL), a loss-making Central Public Sector Enterprise under the Ministry of Railways. The decision affects 626 employees who will receive a voluntary retirement scheme based on the 2007 pay scale. The government will allocate a one-time grant of 151.18 crore for severance packages and settling liabilities. This move aims to halt financial losses from public funds. BWEL, declared sick in 2002, has struggled financially despite support and has low revival prospects. The company manufactures and repairs wagons in Bihar.