HPSIDC earns profit of Rs 14.54 crore this year

Shimla, Sep 22 (UNI) Himachal Pradesh Industries Minister Kuldeep Kumar today said the HP State Industrial Development Corporation (HPSIDC) had earned a profit of Rs 14.54 crore during 2005-06.

Presiding over the annual general meeting of the corporation here, he said that the corporation had improvement in its functioning during the last three years.

The Board of the corporation also approved payment of a performance incentive to all its employees, besides reviewing its operations during the current financial year.

Corporation's Managing Director Anil Khachi informed the board that with the extension of the incentive package up to March 31, 2010, the demand for industrial plots had increased following which the HPSIDC had embarked upon a time bound plan for developing industrial areas in different parts of the state.

The board also approved a term loan of Rs. 250 lakh to a hotel unit being implemented in the private sector at Baddi in Solan district.

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