Calcutta, March 9 :     The government has decided to pump Rs 68 crore into Hindustan Cables Ltd (HCL) to help the company get rid of 1500 workers through a voluntary retirement scheme (VRS). The government has also decided to place large orders with the PSU to help boost its earnings besides pumping Rs 75 crore into the company as fresh equity. The department of telecommunications (DoT) will place an order for 107 lakh conductor kilometre (LCKM) jelly-filled cables worth Rs 700 crore in 1999-2000. It has already placed an order for 10 such cables valued at Rs 75 crore. HCL, starved of working capital funds, was given a 50 per cent advance for the order. Meanwhile, industry minister Sikander Bakht told the Rajya Sabha yesterday that the government has decided to revive HCL through financial restructuring and assistance, including non-plan budgetary support, reports PTI from New Delhi. Sources said the VRS package has been discussed with 5,100 workers and the labour unions. The unions have agreed that the workers in the age group of 54-55 years would do well to accept the VRS. HCL, to raise working capital funds, has decided to enter the private placement market through a government-guaranteed Rs 35-crore six-year bond issue in April or May. It is now sure of a turnaround and has asked its bankers to restore normal operations. SBI, State Bank of Saurashtra, Indian Overseas Bank and Bank of India had frozen the company?s accounts after it failed to repay interests. The Cabinet also provided a shot in the arm to HCL by approving the company?s debt-equity conversion. This has taken the company?s paid-up capital to Rs 165 crore while about Rs 167 crore government loan has been converted into equity.