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August 23, 2001
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Money > Business Headlines > Report August 23, 2001 |
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Dunlop urges relief from W Bengal govt to reopen unitBS Bureau The management of Dunlop India Ltd on Wednesday urged the West Bengal government to provide 'reliefs and concessions' so that the Sahaganj factory can be reopened. The company said it would welcome any move by the state government but it cannot be viably run unless some concessions are granted, said sources. The Dunlop management is sticking to the position that there was no 'illegality' in declaring suspension of operation at the plant employing 4,500 workers, contradicting what state industries minister Md Amin had said on Tuesday, when he described the closure as 'illegal'. The company has submitted a nine-point revival scheme to the state government including a soft loan of Rs 250 million against mortgage of property, conversion of sales tax arrears and unpaid power bills into soft loans with moratorium of three years, 25 per cent concession in power tariff for eight years and conversion of unpaid property tax into soft loan. Workers at the plant have not been paid for several months and this is one of the key demands of the workforce. Government sources said it would try to strike a balance between the company's losses and the welfare of workers so that the plant would be operational till a revival package was cleared. Sources also said that there were no differences between the company and the BIFR-appointed operating agency Industrial Development Bank of India Ltd. The real problem lay with inordinate delay in sanctioning of the draft rehabilitation scheme by BIFR. Because of the delay, losses were mounting every month, eroding the long-term viability of the entire company. State industry minister Nirupam Sen had said on august 20 "We asked the management to submit their proposals to us, but they did not." Chief Minister Buddhadev Bhattacharjee had on Tuesday asked the labour minister to look into the work suspension. The CITU and INTUC-backed unions, in a joint petition to the state government, demanded intervention to lift the 'illegal' order and asked it to evolve a revival scheme for the company. Powered by YOU MAY ALSO WANT TO READ:
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