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The Government is committed to the implementation of the National Common Minimum Programme which stipulates that the Government is committed for a strong and effective public sector whose social objectives are met by its commercial functioning. While every effort will be made to modernize and restructure sick public sector companies and revive sick industry, chronically loss-making companies will either be sold-off or closed after all workers have got their legitimate dues and compensation.
The Government is providing all possible help to prevent winding up of Kudremukh Iron Ore Company Limited (KIOCL). Discussions are being held with various authorities including Government of Karnataka. Assistance is being providing to KIOCL to get new mining leases in Karnataka and other places in India as well as in procuring iron ore from other sources.
This information was given by the Minister of Chemicals & Fertilizers and Steel, Shri Ram Vilas Paswan in a written reply to a question in Rajya Sabha today .
BJ:PM
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