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Political interference takes toll on state-owned industries

07
Nov '09
Financial health of state-owned industries has been severely impacted by the political interference, admitted Minister for Industry Mr. Mahendra Raya Yadav.

He informed that the Ministry is of the view to sell properties of the country's oldest and largest mills through a tender procedure. A special economic zone (SEZ) would be set up on land of Biratnagar Jute Mill, he added.

On 3rd September the government put this mill into pay-off system; however, the mill workers have been denied their promised wages. In addition to this, various state-owned industries as well as the mills functioning in Sunsari-Morang corridor would be moved to SEZ.

Sluggishness of the ministries had hampered handing over process of multi-fuel plant to the private sector, he said.

Fibre2fashion News Desk - India


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