FM rules out privatisation of Security Printing Press

Hyderabad, June 8 (UNI) Ruling out privatisation of the Security Printing Press, Union Finance Minister P Chidambaram today promised to infuse more capital to make it the world's best Security Printing Press.

Congratulating the organisation for securing a prestigious order to mint one Baht coin from Thailand, he asserted that the Government would continue to own its printing arm for security reasons.

Taking part in the silver jubilee celebrations of the Security Printing Press, the Minister wanted it to explore new business opportunities like printing university degrees, MICR cheques for banks and smart card with security features for organisations.

Referring to the demand made by Indian National Trade Union Congress President Sanjeeva Reddy for providing incentives to the workers of the Press here, Mr Chidambaram said the Centre would definitely provide incentives to them to improve the turnover.

Referring to the target of Rs 80 crore fixed for 2007-08 for the Press as against Rs 67 crore achieved during 2006-07, he expressed the hope that the turnover of the Press would increase several folds in the future. ''The next 25 years will be a golden period for it,'' he added.

Releasing a souvenir of the Security Printing Press, Chief Minister Y S Rajasekhara Reddy promised to consider the demand of the employees for housing sites.

UNI