The Government of India has decided to shut two pharma public undertakings and deprive the other three of all possessions, Sadananda Gowda said, minister of chemicals and fertilizers on Tuesday in parliament.
“There are five PSUs(public sector undertakings) in the department of pharmaceuticals, out of which the government has decided to shut two, namely, Indian drugs and pharmaceutical Ltd (IDPL), and Rajasthan drugs and pharmaceutical Ltd (RDPL), he further said”, in response to a question in Lok Sabha.
The government also judiciously divest the other three, namely, Hindustan antibiotics Ltd (HAL), Bengal Chemicals and Pharmaceuticals Ltd (BCPL), and Karnataka Antibiotics and Pharmaceuticals Ltd (KAPL), he added.
The employees of IDPL and RDPL have been offered voluntary retirement by the Government.
Nonetheless, the minister’s committee constituted on September 9, 2019, will take necessary decisions concerned with closure and strategic sales of pharma public sector undertakings, with a clearance of outstanding liabilities and sales of assets, Sanananda further said.
The commerce and industry minister, Piyush Goyal, said during an interaction with captains of pharma companies, about using PSUs as plug and plays as manufacturing model. He also said that the country should be self-reliant in API, which is the active pharmaceutical ingredient.
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