| Date: |
25-04-2015 |
| Subject: |
Proposal to revive Hindustan Antibiotics being considered:Government |
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NEW DELHI: The government is looking to revive Hindustan Antibiotics (HAL), which is at present facing a financial crisis, the Parliament was informed today.
HAL, country's first public sector undertaking in the pharmaceutical sector, has been facing severe financial crunch for quite some time now.
Admitting that the organisation is "presently facing a financial crisis" the Minister of State for Chemicals and Fertilisers Hansraj Gangaram Ahir informed Rajya Sabha that a "proposal for revival of HAL is also under active consideration of the Government.
He added that salaries of workers and officers have not been paid for 10 and 12 months, respectively.
In the past, salaries have been arranged to be paid by drawing advances from the Contingency Fund of India for four months, the Minister said.
"Efforts are being made to pay salaries and a proposal for re-appropriation of funds has been sent to Ministry of Finance," he added.
Separately, efforts are being made for providing working capital to the company and also to make critical payments, he said.
Set up in 1954, HAL is the first drug manufacturing unit in India to undertake commercial production of antibiotics like Penicillin, Streptomycin, Gentamicin, Ampicillin and Amoxycillin, among others.
In a separate reply, the Minister informed the Rajya Sabha that inspite of stringent regulatory measures by the US, India is the fourth-largest partner of the US in supply of generic medicines with over USD 4 billion exports to the country during the 2013-14.
Besides, Indian pharma companies are already exporting to Africa, Middle East and European countries, he added.
Source : economictimes.indiatimes.com
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