Himachal Pradesh SIDC To declare maiden dividend

Himachal Pradesh SIDC To declare maiden dividend

Shimla: Marking a turnaround, HP State Industrial Development Corporation (SIDC) would become the first state public sector undertaking to declare a dividend as it shall be paying the one percent dividend over its total business during current financial year.

Decision to declare a dividend was taken at a board meeting that was presided over by chief minister Prem Kumar Dhumal on Thursday.

Speaking on the occasion, the chief minister said the corporation by declaring a dividend has set an exemplary benchmark for other public sector undertaking to emulate.

Objective for creation of PSU was to carryout commerce and trade activities professionally, earn an income for the organisation by keeping pace with marketing trends and thorough diversification of its activities.

All PSUs needed to explore possibilities of securing businesses from public and private sector. In a cut-throat environment, hard work and excellence was the only way to succeed.

The chief minister said that the government was receiving many proposals for setting up world class educational institutions and HPIDC could benefit by exploring the possibility of developing campuses and creating land banks for setting up these educational institutions, which would facilitate the entrepreneur as well as add to the revenue stream of the organisation.

The organisation could also expand by taking up construction projects for other government organisation, said Dhumal.

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