Ruling out divestment in public sector units under his ministry, Chemicals and Fertilisers Minister Ram Vilas Paswan said on Thursday that the government would make all efforts to revive ailing enterprises like Hindustan Antibiotics Ltd.
The Divestment Development: Complete Coverage
"We will make all efforts to revive all ailing units and only if the revival is not possible, the government would consider divestment as the last option," Paswan told reporters.
He completely ruled out divestment in HAL saying that the company had been able to prune its losses from Rs 32 crore (Rs 320 million) to Rs 4 crore (Rs 40 million) in 2003-04 and efforts would be made to see that the company starts making profit.
"HAL cannot be sold or divested due to historic reasons," he said.
Paswan said the ministry, which had Hindustan Organic Chemicals Ltd, Hindustan Insecticides Ltd, Bengal Chemicals and Petrochemicals Ltd among others would see that the units not doing well start reaping profit.
More from rediff