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Regular-article-logo Monday, 16 June 2025

Intuc plea to Munda on sick unit revival

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RANJAN DASGUPTA Published 30.07.03, 12:00 AM

Jamshedpur, June 30: An Indian National Trade Union Congress (Intuc) delegation, led by Rakeshwar Pandey, today met chief minister Arjun Munda in Ranchi and requested him to play a pro-active role in re-opening the Indian Steel and Wire Products (ISWP) and Indian Cable Company (Incab) here.

“The response from the chief minister was good. He gave us a patient hearing for nearly half-an-hour and assured us that he will take up the matter on a priority basis,” Pandey said.

The two companies were closed nearly five years ago due to paucity of funds. More than 3,300 employees have been adversely hit after the closure of the units. Workers and their families have been living a hand-to-mouth existence because of the unit shutdown.

The delegation urged the chief minister to request the Union finance ministry and Board for Industrial and Financial Reconstruction (BIFR) to approve the bid placed by Tata Steel to take over ISWP.

“We told the chief minister that all financial institutions attached with ISWP have accepted Tata Steel’s bid to take over the unit. Even the 1,200 ISWP employees are in the steel major’s favour. The state government should use its influence to ensure that Tata Steel’s bid is approved by the board without any further delay,” Pandey said.

In the case of Incab, the delegation wanted the government’s backing in reviving the unit. “Nicco has expressed interest in Incab and is preparing a viability report. But they want the state government to provide financial aid,” Pandey said.

Incab, like ISWP, was referred to the board in 2000 as the Malaysia-based promoter, Leader Universal, refused to pump in funds to operate the company.

Although a handful of promotors made bids to take over Incab, the board rejected them as they did fulfil the stipulated conditions.

However, not many are optimistic that the chief minister would be able to keep the promises he made today.

“For the past five years, we have been told that steps would be taken to revive the sick units. But none of these promises has been fulfilled. Even former chief minister Babulal Marandi tried to revive the units. But he too failed,” a worker said.

Last year, Marandi had requested the Union finance ministry to impress upon the board to accept Tata Steel’s bid so that ISWP could be revived.

But the ministry paid no heed to the plea. Marandi had also assured several labour unions that the state government would work out steps to revive Incab.

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