REVIVAL OF HINDUSTAN CABLES UNIT
Hindustan Cables
Limited (HCL) established in 1952 has been regular supplier of
telecom cables of Department of Telecom (DOT), Bharat Sanchar
Nigam Ltd. (BSNL) and Mahanagar Telephone Nigam Ltd. (MTNL) as
well as to Defence organisations.
HCL is competing
with other cable manufacturers, in the open tenders invited by
BSNL and MTNL.
The Union Government
have taken a number of measures to help the company; including
sanction of a package of assistance in 1999 which inter alia provided
for two years reservation of orders of DOT/MTNL in favour of HCL.
The Government have further approved the continuance of reservation
of orders till disinvestment takes place in HCL.
HCL executed pending
order of 40.27 lac crore kilo meter (LCKM) of Poly insulated Jelly
filled (PIJF) cables during 2002-03.
Board for Industrial
and Financial Restructuring (BIFR) has declared the company sick
in its meeting held on 21.3.2003 and appointed State Bank of India
(SBI) as the Operating Agency (OA). The BIFR has directed OA to
undertake a techno economic viability study of the company.
This information
was given in the Lok Sabha today by Shri Subodh Mohite, Minister
of Heavy Industries and Public Enterprises in a written reply
to a question by Shri Mahboob Zahedi.
