The Hindu Business Line : BHPV on the brink again

BHARAT Heavy Plates and Vessels (BHPV) here, a heavy engineering company, seems to be on the brink again and the employees are agitated that it may be referred to the BIFR and privatised later.

The recognised union as well as the management of the unit are under great pressure from workers. So are the local Telugu Desam leaders who have made promises to revive the unit.

In a statement here on Thursday, the BHPV Employees' Union, affiliated to the CITU, which lost the election last year, alleged that the recognised union and the leaders of the Telugu Desam behind it could do precious little to revive the unit, even though they had promised to do so and won the election last year by misleading the workers.

The union said that the ground had been prepared to convene the board meeting later this month in New Delhi and declare a loss of Rs 180 crore, paving the way for referring BHPV to the BIFR.

At the board meeting on January 5 in New Delhi, it had been declared that the accumulated losses amounted to Rs 100 crore and the loss for the year 2002-2003 was Rs 80 crore. The total loss, therefore, added up to Rs 180 crore. The board was scheduled to meet again in New Delhi on January 29 and then the unit would be referred to the BIFR, said the union.

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