Himachal Industrial Development Corp Turns In Rs 10.77 Profit for 2008-09

Shimla: For the 5th consecutive year, HP State Industrial Development Corporation (HPSIDC) has reported a profit, earning Rs 10.77 crore for the year 2008-09, perhaps being the only state public sector undertaking to have achieved the rare feat.

Commending the management at the board of director meet on Friday, chief minister Prem Kumar Dhumal said that HPSIDC had made stupendous improvement in its operations during the last one and a half years.

At the board meet the chief minister also reviewed progress of developing new industrial estates. He asked for drawing up active plans for AISDE- Phase-II (Assistance to States for Development of Export Infrastructure and Allied Activities-a scheme of Government of India) in consultation with the director of Industries towards upgrading existing industrial areas so that additional funds under the scheme are allocated by the Central Government.

The board approved the annual accounts of the corporation for 2008-09. The board also approved payment of 8.33 percent good performance incentive to the employees of HPSIDC for the financial year 2007-08.

A contribution of Rs 1.00 crore was made towards chief minister’s relief fund out of the profits generated during the financial year 2008-09.

Kashmir Chand, MD, HPSIDC briefed about the activities of the HPSIDC and stated that the Corporation expected to achieve the operational targets and earn profits during the current financial year also.

Parthasarth Mitra, Principal Secretary (Industries), Arvind Mehta, Principal Secretary, Finance, Manoj Kumar, Director, Industries, Sanjay Gupta, Managing Director, H.P. Financial Corporation, Ram Subhag Singh, Secretary, I&PR and Agriculture and Kamlesh Pant, Director, Institutional Finance were also present in the meeting.

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