Question: Hindustan Antibiotics Limited is a … .
a) public sector undertaking
b) private sector company
d) firm based on public private partnership
d) None of the above.
Ans: (a)
Related facts:
- On 28th December, 2016 , The Union Cabinet chaired by the Prime Minister Shri Narendra Modi approved the sale of surplus land of Hindustan Antibiotics Limited, Indian Drugs & Pharmaceuticals Limited, Rajasthan Drugs & Pharmaceuticals Limited and Bengal Chemicals & Pharmaceuticals Limited.
- The sale of surplus land of these four public sector undertakings was required to meet their outstanding liabilities. In this way, the national assets would be utilized in the best national interest.
- The sale would be through open competitive bidding to government agencies and the outstanding liabilities will be met from the sale proceeds.
- Voluntary retirement scheme and voluntary separation scheme will also be implemented in these Public Sector Undertakings.
- The remaining part of the land will be managed in accordance with the guidelines of the Department of Investment & Public Assets Management (DIPAM) and Department of Public Enterprises.
- After meeting the liabilities, steps will be taken to close Indian Drugs & Pharmaceuticals Limited and Rajasthan Drugs & Pharmaceuticals Limited. The option of strategic sale will be explored for Hindustan Antibiotics Limited and Bengal Chemicals & Pharmaceuticals Limited. The Department of Pharmaceuticals, the administrative department for these undertakings, will take time bound follow-up action.
Reference:
http://pib.nic.in/newsite/PrintRelease.aspx?relid=155920
https://www.telegraphindia.com/1161229/jsp/business/story_127361.jsp#.WGTr7dJ97IU