July 28, 2017
Kalyan Banerjee speaks against the decision to divest Burn Standard Co Ltd
FULL TRANSCRIPT
Madam, I am talking about Burn Standard Company, which came into existence in 1781 in Howrah. The company built two important structures – the St Andrew’s Church in Kolkata 1880 and Shahid Minar in 1828. In 1976, following nationalisation, Burn Standard Company was amalgamated with Indian Standard Wagon Company and renamed Burn Standard Company Limited.
Burn Standard is one of the oldest and leading wagon builders in India. But owing to various reasons, the company has become a sick industry since 1995; thereafter a restructuring scheme was evolved. A financial restructuring scheme totaling a cost of Rs 245 crore was approved in June 2016 by the Ministry of Railways and processed for the approval of the Cabinet, but the same has not materialised due to the non-recommendation of the NITI Aayog.
What I am requesting the Ministry, through you, is that under the present circumstances, with Burn Standard Company being one of the oldest and leading wagon manufacturers, should be revived with Central assistance to recover its lost glory. Any disinvestment proposal of the company is strongly opposed by us.
I will request the Government to consider our prayer.
