No PSU will be closed, says Nirani

Large and Medium Industries Minister Murugesh R. Nirani on Friday said that his department has prepared a plan to revive loss-making public sector undertakings and make them profitable.The Minister, w

Large and Medium Industries Minister Murugesh R. Nirani on Friday said that his department has prepared a plan to revive loss-making public sector undertakings and make them profitable. The Minister, who assumed charge of the department, outlined his priorities. “There are several corporations and institutions such as Kalaburagi Cement Corporation, Mysugar and Mysore Paper Mills, that are on the path of bankruptcy. I held discussions with Union Ministers on reviving them during my trip to New Delhi two days ago. I will not allow closure of industries and try to make them functional,” he said. On the use of land allocated by the Karnataka Industrial Area Development Board (KIADB) for setting up industries, Mr. Nirani warned against its misuse. “Those who obtained land to set up industries from KIADB must use it for the same purpose. There is no provision to use KIADB land for other purposes. I will order a probe if the land is being misused,” he warned.