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June 17, 2018

Bengal CM writes to Centre, saying it’s extremely wrong to sell off Bengal Chemicals

Bengal CM writes to Centre, saying it’s extremely wrong to sell off Bengal Chemicals

Chief Minister Mamata Banerjee has written a strong letter to the Union Commerce & Industry Ministry regarding the Central Government’s decision to sell off Bengal Chemicals & Pharmaceuticals Ltd., a company with a long and illustrious history.

Though it was not doing well for some time, in the last few years it has turned around quite a bit. The company earned profits during the 2016-17 fiscal, which almost doubled during the 2017-18 fiscal (an increase of 97.5 per cent). In this state of things, what is needed is more help from the Centre rather than selling it off.

Hence, the Chief Minister has written in the letter that the decision to sell it off should be immediately taken back. She has also written that the Bengal Government would provide all manner of help to build Bengal Chemicals up into a Maharatna company.

The company also has units in Mumbai and Kanpur. The Centre had previously too tried to sell the company. It was mainly Mamata Banerjee’s efforts which prevented that from happening.

Another point raised by the Chief Minister in her letter is the fact that the Kolkata High Court is yet to decide on the case filed by the workers and unions of the company against the Centre’s decision to sell it off.

Then, the company is engaged in manufacturing fair-priced essential goods for the common people. Hence, it can never be termed a ‘low-priority enterprise’, as the Centre has signified it.

Mamata Banerjee in her letter has also written about the illustrious history of the company and its crucial role in the movement for Indian-made goods during the colonial period.

All in all, the Chief Minister, through coherent arguments, has clearly indicated in the letter that it is an absolutely wrong decision to sell off Bengal Chemicals, as it is a profitable company now.