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PSU awaits Centre’s nod for takeover

PALAKKAD: The annual conference of the Instrumentation Workers’ Union here has urged the Centre to give nod to the proposed takeover of the Palakkad unit of Instrumentation Limited by Bharat Heavy Electricals Limited (BHEL). A resolution passed at the annual conference here on Friday said that Instrumentation Limited, which had units in Kota, Rajasthan, and Palakkad, was declared sick 14 years ago. The revival proposals submitted by the company to the BIFR, BRPSE, IDBI etc. did not get approval.

While the Palakkad unit had been making profit since inception, the Kota unit was running at a loss for many years. To save the profit-making Palakkad unit, it was proposed to be taken over by the BHEL to make it a production unit. The conference urged the Central Government to give approval to the proposal.

The conference was inaugurated by the All-India Secretary of CITU K.K. Divakaran, MLA.

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