Source: The Sangai Express
Imphal, January 23:
Of the eleven units identified as sick under the State Industries Department two such units have been closed down while preparations are on to close down another 4.On the other hand the Department is unable to decide the fate of two units.
This follows the MoU signed between the Centre and the State Government to close down alt sick units so as to improve the financial condition of the State.
According to a well placed source, the Industries Department has performed the last rites for Hundung Cement Factory and Manipur Cycle Factory.
The fate of another four such sick units will be decided during a meeting scheduled to be held on January 28 with Chief Secretary AP Sharma as the chairman.
The units which will be discussed during the meeting are likely to be Manipur Spinning Mills Corporation, Manipur Pulp and Allied Industries Corporation, Manipur Food Industries Corporation and MANIDCO.
However, the Industries Department is yet to take a decision over the fate of Manipur Pharmaceutical and Drugs Limited as the consent of the Centre is needed.
This unit was founded with 51 percent funding by the Central Government.
Likewise no definite decision could be taken with regard to Manipur Vanaspati and Allied Industries Limited as this unit was jointly set up with the Oswal Group.
Permission from the Oswal Group also has to be sought for its closure, said the source.
Even though, the State Government had taken the decision to close down MANIDCO, the Industries Department is still unable to take a final decision, said the source.