The Save FACT Action Committee has reiterated its demand for urgent government intervention to save the fertiliser company, and described the decision to refer the company to Board for Industrial and Financial Reconstruction (BIFR) as “unjustifiable”.
The call came at a meeting of the committee here on Saturday after the company’s case was referred to BIFR. However, the company management made it clear on Saturday that a rehabilitation package for the ailing company was at an advanced stage and that it expected the government to act urgently on the issue.
The management also felt that the scheduled BIFR hearing on FACT case on Tuesday would be postponed after the Department of Fertilizers made a request to that effect.
The Save FACT Action Committee, a combine of trade unions at FACT, felt that sanctioning just the Rs. 991 crore recommended by the Board for Reconstruction of Public Sector Enterprises would not be a long-term solution to the company’s problems.
The leaders of the Committee said on Saturday that making natural gas available to FACT at reasonable rates or providing compensation for the higher gas price would serve to find a solution to the current problems to a great extent.
A statement issued by the Action Committee called on the State government to take the lead in saving FACT and also reiterated its demand that the State must forgo the VAT on natural gas.
The committee said it would seek to put pressure on government through a slew of protest action involving the people.
The committee is scheduled to meet here on September 19 to chalk out a plan of action for the future, the press release added.
Appeal
Public Accounts Committee Chairman and Ernakulam MP K.V. Thomas has appealed to the PM to postpone the September 16 hearing on FACT by BIFR. He appealed for sanctioning of BRPSE's revival package.
