Revival package for seven units of fertiliser corp

A revival package had been approved for seven units of the Fertiliser Corporation of India that were closed during the previous NDA regime, Chemicals and Steel Minister Ram Vilas Paswan said on Wednesday.

The package could not be announced due to assembly polls in Uttar Pradesh and "once the election formalities are over that will be seen on paper", he said while inaugurating the golden jubilee function of state-run Hindustan Insecticides Limited (HIL) at nearby Udyogamandal.

HIL has done a lot to improve health, increase agricultural production and make India self-reliant in food, he said.

The UPA government, through its Common Minimum Programme, is committed to a strong and effective public sector. In line with this commitment, the government has taken a conscious decision to revive and restructure many sick but socially relevant public sector enterprises, Paswan said.

Assuring that he will not hurt the interests of employees, Paswan said he had announced when he became minister that "no company will be declared sick or be privatised or closed".

"We are trying to reduce the prices of medicines," he said. "We have approached the cabinet for a new pharmaceutical policy and that is under the consideration of a Group of Ministers."

Source :ET