State ready to take over HLL Lifecare, HNL, says Jayarajan

The State government is willing to take over Central public sector undertakings (CPSUs) such as HLL Lifecare Limited and Hindustan Newsprint Limited (HNL) that the Union government has listed for disinvestment, Industries Minister E.P. Jayarajan has said.

Replying to a calling attention motion of M. Swaraj on the need to mount pressure on the Centre to recede from the move to privatise CPSUs in the Assembly on Monday, Mr. Jayarajan said that the State government’s policy was to make such units efficient and competitive and retain them in the public sector itself. He demanded the Centre to correct its policy to sell out profit-making PSUs.

Plea in HC

The State had filed a petition at the High Court against the move to privatise HLL Lifecare Limited, but the court refused to intervene in a policy decision of the Centre. But a final decision had not been made on divesting the Central stakes in the company, he said.

The government would submit a package before the National Company Law Tribunal that had liquidated the Hindustan Paper Corporation, the holding company of HNL as part of the efforts to take over the company.

The Public Sector Undertakings Restructuring and Internal Audit Board had been entrusted to work out the package, he said.

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