Pharma PSUs likely to sign MoU with LMA for sale of surplus land

The sale of land of the four sick pharma PSUs has not seen much progress since 2016. Government sources indicated that the PSUs would sign a memorandum of understanding (MoU) with the land management agency and go ahead with the sale process. In contrast to the earlier decision of selling the land to government entities, now the Cabinet has approved sale to private entities as well. 

The PSUs thus are hopeful that the sale process could now be expedited. 

In December 2016, the government had identified four pharma PSUs — Indian Drugs and Pharmaceuticals (IDPL), Rajasthan Drugs and Pharmaceuticals (RDPL),