Centre to revive Bengal Chemicals

Kolkata may 24 (UNI) The Centre has approved the revival package for Bengal Chemicals and Pharmaceuticals Ltd.

An official release said the UPA government has decided to revive all the three sick Central Pharmaceuticals PSEs, including Bengal Chemicals and Hindustan Antibiotics Ltd, the cases of which are lying with BIFR for the last 10 to 20 years.

The release said here today that the package would involve cash infusion and waiver amounting to several hundred crores.

The government has taken up the revival programme as a mission, Prime Minister Manmohan had said said in the document "Report to The People", brought out on the occasion of completion of three years of UPA government.

The revival package for Indian Drugs and Pharmaceuticals Ltd was under consideration.

A Group of Ministers was considering the draft of a National Pharmaceuticals Policy that seeks to harmonise price control issues with growth requirements of the pharmaceuticals industry and simplify the procedure for price fixation and price monitoring.

UNI