Indian Drugs & Pharmaceuticals Limited (IDPL), largest public sector drugs maker in the country that is waiting for a new lease of life since 1992, wants the government to quickly decide on reviving the company as the delay is holding up its expansion plans.
The company, which was set up in 1961 to enable the country attain self-sufficiency in life-saving drugs, is working toward raising production in the next three years. Besides, it has signed an agreement with National Buildings Construction Corporation to develop 15% of 90-acre plant at Gurgaon as commercial residential complex.
?We have received umpteen number of packages but the final decision on the company is still awaited. A quick decision is required on the company. At the most it should have taken six months to one year,? company?s chairperson and managing director Jayashree Gupta told FE.
?If you want to run the company, run it properly. If you want to close it, close it properly, said Gupta, peeved by the delay in approving the revival package. The recommendations on the revival of the company are lying with the group of ministers (GoM), headed by defence minister AK Antony, which has not met since mid-2007, sources said.