SHIMOGA: Deputy Chief Minister B.S. Yediyurappa said here on Tuesday that about 50 per cent of posts in boards and corporations would go to party workers whenever they were reconstituted in the wake of the Supreme Court order disallowing the elected members to hold office of profit.

He told presspersons that a decision would be taken by his party after watching the reaction of Parliament to the Supreme Court order in the matter when it would resume its session next week. He said he would discuss the matter with Chief Minister H.D. Kumaraswamy.

Mr. Yediyurappa, who holds the portfolio of major industries, said that he would hold discussions with all those concerned shortly to consider the proposals to rejuvenate Mysore Paper Mills (MPM) of Bhadravati. He said it would not be allowed to become a sick unit and added that the Government had released Rs. 25 crore for the unit.

He said the proposal to make the MPM a joint venture was under study. He said the development of the sugar factory attached to the MPM would be given importance. He said the investment of about Rs. 40 crore to Rs. 50 crore was required to make the MPM a stable unit.

Mr. Yediyurappa ruled out the possibility of the Government's sandal oil factory in Shimoga being revived because of non-availability of sandalwood although the machinery in it was in a good condition.

Describing his recent visit to Germany a success, Mr. Yediyurappa said the response from the investors was beyond his expectations. He said that a majority of investors were inclined to invest automobile industry in Bangalore and added that a team of technical experts would visit Bangalore and other places in Karnataka in September or October before signing memorandums of understanding.

He would finalise the details of foreign investment in the industrial sector after discussing it with the Chief Minister.

Industrial policy

About the new industrial policy, Mr. Yediyurappa said the policy would be based on the recommendations of the experts committee. He said the policy would come out with a new package for the revival of closed units and rejuvenating the sick industries adding that it would strike a proper balance between big and small industries.

The deadline to pay the agricultural loan obtained through the cooperative institutions had been extended up to the end of this month, he said and added that a Government Order to this effect would be issued soon.

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