At a time when the acute financial crisis may even lead to the close down of Hindustan Organic Chemicals Ltd (HOCL) unit at Ambalamugal, the people’s representatives have come forward to save the public sector company.
It is learnt that considering its financial contribution to the exchequer, Chief Minister Oommen Chandy has agreed with the HOCL management to bring the issue to the attention of the Central Government. The assurance was given at a special meeting held recently between the Chief Minister and the management authorities at the former’s residence in Puthuppally.
Meanwhile, K P Dhanapalan MP told ‘City Express’ that the issue would be raised in the next parliament session. “Also, measures will be initiated to secure a revival package. I will also meet Finance Minister P Chidambaram in this regard. A revival package is vital for the company to restart its operation at Ambalamugal,” he said. He further said that it may not be possible to delink the HOCL’s units at Rasayani and Ambalamugal.
“Bearing the financial crisis of the Rasayani unit, which has been going through difficult times for the past 16 years was partly responsible for the crunch at the Ambalamugal unit. However, the Members of Parliament from Maharashtra will oppose the move. Hence, priority will be given to obtaining maximum financial aid from the Centre,” he said.
The HOCL officials also said that a delegation from the company was heading for Delhi next month to meet the Cabinet Committee members who have the power to re-introduce anti-dumping duty on the chemicals being imported.
“The imposition of the charge is the only way to wriggle out of the crisis and to increase the demand for chemicals manufactured at the company,” officials said.
They added that they would meet Cabinet Committee members, including Defence Minister A K Antony, Minister for Commerce and Industry Anand Sharma, and Union Minister Sreekant Kumar Jena in this regard,” they said.
It’s two months since the unit temporarily closed down due to the crisis.