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GoM moots closure of 4 sick fertiliser PSUs

In a far-reaching reform initiative in fertiliser sector, a Group of Ministers on Tuesday recommended the closure of 12 sick and unviable units in four fertiliser public enterprises.

Four units of the Fertiliser Corporation of India, three each in Pyrites, Phosphates and Chemicals Ltd and Hindustan Fertiliser Corporation Ltd, and two of Projects Development India Ltd are recommended to be wound up.

The recommendation would now be forwarded to the Union Cabinet for clearance, Fertiliser and Chemicals Minister Sukhdev Singh Dhindsa said after a meeting of the GoM, headed by Finance Minister Jaswant Singh.

He said a voluntary retirement scheme package would be worked out for more than 12,200 employees in the 12 units once the recommendation gets the Cabinet nod.

"All necessary measures will be taken to protect the interests of all the employees in the units sought to be closed down. An appropriate package will be prepared for them," Dhindsa said.

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