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BCCL
tops arrears’ list of govt-owned sick companies
Sumanta Ray Chaudhuri
Kolkata,
Aug 28:
PUBLIC sector Bharat Coking Coal Ltd owes the maximum arrears
to its employees among companies referred to the Board for
Industrial & Financial Reconstruction (BIFR), according
to the estimates committee of the Parliament. The arrears
are in terms of salary, provident fund and gratuity.
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Private
sector in huge losses
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Sumanta
Ray Chaudhuri
Kolkata, Aug 28: Contrary to the government’s projection
that public sector units account for the biggest chunk
of industrial losses in the country, the estimates committee
feels that private sector units contribute to the major
share of industrial losses. During the three months from
April 2001 to June 2001, 10 private sector companies have
incurred a total loss of Rs 900 crore. |
Highly
placed sources associated with the functioning of the committee
told The Financial Express that the committee has recently
prepared a report on companies referred to the BIFR.
BCCL tops this list with arrears of Rs 318.28 crore, followed
by Praga Tools Ltd (Rs 315.68 crore) and National Jute Manufactures
Corp (Rs 122.22 crore).
Next in the top ten are Heavy Engineering Corp Ltd (Rs 77.40
crore), Eastern Coalfields Ltd (Rs 70.05 crore), Indian Drugs
& Pharmaceuticals Ltd (Rs 68.67 crore), Jessop & Co
Ltd (Rs 43.90 crore), Burn Standard Ltd (Rs 37.89 crore),
Bharat Refractories Ltd (Rs 30.07 crore) and Projects &
Developments Ltd (Rs 14.87 crore).
Altogether 75 public sector companies had been referred to
the BIFR as on March 31, 2001, of which 42 units account for
Rs 1278.91 crore of defaults, affecting the livelihood of
half a million workers.
However, the Union ministry of labour does not have the figures
for the total arrears owed by the remaining 33 BIFR-referred
companies and the number of affected workers there.
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