Financial Daily from THE HINDU group of publications
Tuesday, Sep 17, 2002
Financial Daily from THE HINDU group of publications Tuesday, Sep 17, 2002 |
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Industry & Economy
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Disinvestment Dhindsa against sell-off in profit-making PSUs Our Bureau
NEW DELHI, Sept. 16 THE Minister for Chemicals and Fertilisers, Mr S.S. Dhindsa, today reiterated his opposition to the disinvestment of National Fertilisers Ltd (NFL). Speaking on the sidelines of the pre-event briefing of India-Chem 2002 here today, Mr Dhindsa said that there was no case for privatising profitable public sector enterprises (PSEs). "PSEs like NFL should not be privatised. NFL is not only making huge profits but occupies a strategic position due its contribution to the fertiliser industry, which is crucial to agriculture.'' The Minister, in his address, said that due to sound educational system and a strong network of educational institutions, research laboratories and technological institutes in the knowledge-based industries, India has the potential of becoming a global research and development hub. Realising India's strength in the knowledge-based sectors he said, large global companies like GE are setting up their research facilities in the country. India-Chem 2002 is an exposition of chemicals, petrochemicals, pharmaceutical technologies, process, plant and machinery control and automation system. The event is being jointly organised by the Federation of Indian Chambers of Commerce and Industry (FICCI) and the Department of Chemicals and Petrochemicals, Ministry of Chemicals and Fertilisers. The event is also being supported by 20 related industry associations. "Given that 79 foreign companies have confirmed participation in India-Chem 2002, this will provide an ideal platform for global majors to appreciate the strengths of Indian companies. This interaction will lead to tie-ups in the coming years,'' the Minister said. A total of 233 companies are participating in the event.
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