January 26, 2014
Going against the existing law, the Ministry of Industry is preparing to identify Bhrikuti Pulp and Paper Limited (BBPL) as a sick industry. As per the Industrial Enterprise Act 1992, only the industrial units operating in loss for five straight years and running at 20 per cent or less production capacity can enjoy the benefits of sick industry. However, privatised industrial units cannot claim the facility.
Talking to Republica, former Vice-Chairman, National Planning Commission, Dipendra Bahadur Chhetri Chhetri, who headed the taskforce on sick industries, said there was no point pumping in additional resources on privatised industrial units, as the state had provided them with many facilities during privatisation.