Save FACT Action Committee, the combine of trade unions at the public sector Fertilisers and Chemicals Travancore Limited, has called on the State government to constitute a committee of experts to study the future of the company.
The suggestion came up at a workshop organised by FACT trade unions. Experts who spoke at the workshop said the State government should immediately step in to save FACT.
Former director of NTPC S.M.C. Pillai; chairman of Public Sector Restructuring and Internal Audit Board, Kerala government, M.P. Sukumaran Nair; former CMDs of FACT T.T. Thomas, A. Ashokan, V.G. Shankara Narayanan and former chief engineer Gopakumar M. Nair were among those who spoke at the workshop on Tuesday, said a press release here.
The release said the differences between the Union and State governments in their “political chemistry” must not stand in the way of reviving the financially troubled fertilizer company. Instead, it should be steadied through a financial restructuring. If the Union government was not willing to do that, the State government should be ready to take over the PSU, the release added.
The suggestions that came up during the discussions included the establishment of a power generation unit using natural gas along with a urea plant. Another suggestion was that a defence industry complex could be established using FACT land.
