The Hindu Business Line : Security Printing Press urged to tap new biz

Hyderabad June 8 The Union Finance Minister, Mr P. Chidambaram, has asked the Security Printing Press - Hyderabad (SPPH) to diversify into tapping commercial business opportunities in smart cards, university degree printing, MICR cheques, National I-Card project and so on.Promising substantial investments in the next 5-10 years in equipping the Press with latest technology, Mr Chidambaram said the National I-Card project itself demands 100 crore cards. Similarly, printing of driving licenses offers big business.

Describing the SPPH as a Government Owned Commercial Organisation, the Finance Minister complimented its contribution on the occasion of its silver jubilee celebrations. He urged the employees and management to be competitive and innovate to meet market and consumer demands.

The SPPH had bagged a major export order from Thailand for printing that country's currency coin - the one Baht, which is a big recognition for the country's capability in security printing, he added.

Mr Chidambaram also dispelled fears of privatisation stating: "You will always be owned by the Government. I promise that you will never be privatised as you are the security printing arm of the Government".

The Minister also conceded to the demand of the union and employees to introduce an incentive scheme. He asked the Joint Secretary in his Ministry and the General Manager of SPPH to look into the scheme and work out the details.

The Andhra Pradesh Chief Minister, Dr Y.S. Rajasekhara Reddy, in his address, assured all the help to the Security Press to emerge competitive. He released the silver jubilee brochure and honoured a couple of retired employees on the occasion.

The Trade Union leader, Mr G. Sanjeeva Reddy, said the SSPH had completed 25 years without a strike or dharna and delivered as per the demands made on it. Therefore, the company required the best possible support in its future journey.

Mr N.K. Sinha, General Manager of the SPPH, while giving a report on the milestones in the last 25 years said the turnover for 2005-06 was Rs 67 crore and the target for the current fiscal was Rs 80 crore.

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