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Govt has decided to shut 2 pharma PSUs, disinvest other 3: Govt tells LS

The government has offered voluntary retirement benefits to all employees of IDPL and RDPL, Gowda said

Lok Sabha | Pharma industry | PSUs

Press Trust of India  |  New Delhi 

pharmacy, drugs, medicine, pharma companies, pharmaceuticals, vaccine, coronavirus, covid, testing

The government has decided to close two pharma public sector undertakings and disinvest the other three, Parliament was informed on Tuesday.

"The Department of Pharmaceuticals has five public sector undertakings (PSUs). Out of the five PSUs, the government has taken a decision to close two pharma PSUs, namely Indian Drugs & Pharmaceuticals Ltd (IDPL) and Rajasthan Drugs & Pharmaceuticals Ltd (RDPL)," Minister ofChemicals and Fertilisers D V Sadananda Gowda said in response to a question in the .

The government has also decided to strategically disinvestthe other three -- Hindustan Antibiotics Ltd (HAL), Bengal Chemicals & Pharmaceuticals Ltd (BCPL), and Karnataka Antibiotics & Pharmaceutical Ltd (KAPL), he added.

The government has offered voluntary retirement benefits to allemployees of IDPL and RDPL, Gowda said.

"However, the Committeeof Ministers constituted on September 9, 2019, will take necessary decisions pertaining toclosure/strategic sale of the pharma public sector undertakings, including the sale of assets andclearance of outstanding liabilities," he added.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Tue, February 09 2021. 20:53 IST