Didi’s bid to take over ailing Basumati gets red carpet

The state Government had already said it had no objection if the Central Government took over the ailing company which has an accumulated loss of Rs 92 crore. In fact,after Mamata mooted this proposal last week in Delhi,the state Minister for Commerce and Industries Nirupam Sen reacted by saying , “It is a very good proposal and I welcome this”. Senior CPM leaders also welcomed the decision. “We hope she will be able to fulfil the promises she has made in her budget,” Benoy Konar,CPM Central Committee member said.

According to the state government officials there is no procedural problem if the Centre takes over the ailing PSU. During the first phase of industrial reconstruction that was launched in January 1,2001 and ended in December 31,2007,when the state government did not find any joint venture partner for the sick PSU Indian Iron and Steel Company (IISCO),it approached the Steel Authority of India (SAIL) to take it over and SAIL agreed. Now the process of SAIL taking over IISCO is nearing completion. “It’s just a formality. Either the state government writes to the concerned union ministry to take over a certain concern or the Central government could write to the state government for the same purpose,” a state government official told The Indian Express.

Mamata’s proposal spelled relief for the Basumati employees,who owe their allegiance to both Trinamool Congress-backed INTUC and CITU,the labour wing of the CPM. Both the unions participated in numerous protest rallies and dharnas against the decision of the state government to close down the concern. Mamata herself addressed a rally at the company’s gate in February 8 this year,in which she promised that she would not let Basumati be closed down.

“We thank Mamataji for fulfilling her promise to save the organisation,” Timir Mukherjee,convenor of Basumati Corporation Bachao Committee,said.