![]() Financial Daily from THE HINDU group of publications Thursday, May 26, 2005 |
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Corporate
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Sick Units `Revival packages for BHPV, HSL to be ready by August' Our Bureau
Visakhapatnam , May 25 THE United Progressive Alliance Government is striving to fulfil all its electoral promises and as a part of the endeavour the public sector units here - the Bharat Heavy Plate and Vessels (BHPV) and the Hindusthan Shipyard Ltd (HSL) - will be revived, said Mr N. Janardhana Reddy, former chief minister and the member of the Lok Sabha from Visakhapatman. At a press meet here on Wednesday, he reviewed his one-year performance as the member of the Lok Sabha. Mr Reddy said he had met the Union Finance Minister, Mr P. Chidambaram, and the Union Heavy Industries Minister, Mr Santosh Mohan Dev, and they were willing to revive the unit. "The Union Industries Ministry has to prepare the package and as an interim measure the Government has sanctioned Rs 46 crore for the unit. With the amount, the PF dues and the salary arrears are being cleared. The order book position is fine, with orders worth Rs 240 crore on hand. It is likely to get orders worth Rs 100 crore more by month-end. The oil sector companies are placing orders with it," he said. Referring to the Hindusthan Shipyard, he said the State Government had deferred collection of commercial tax dues (Rs 51 crore) and the Union Surface Transport Ministry was preparing the revival package. To a specific question as to how much more time the ministries needed to get the packages ready, Mr Reddy said he could not fix a timeframe. "But it is my earnest endeavour to get them cleared as soon as possible. The Prime Minister or Ms Sonia Gandhi may visit Visakhapatnam in August. I have invited them and I shall do my best to get them to announce the packages here," he said. Mr Reddy said the expansion of the Visakhapatnam Steel Plant's capacity was also high on his list of priorities. He said it would get the clearance from the Government soon. He said the ground was being cleared for construction of two rail overbridges at Kottavalasa and Gopalapatnam to clear the traffic hassles. "I am fully familiar with the problems of my constituency and am responsive to the needs of my people. I am striving hard to solve the problems. These decisions are taken in the corridors of power in New Delhi and therefore I am working there. It does not mean I am inaccessible to the people here. I mean business," Mr Reddy added.
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