GUWAHATI: The Hindustan Paper Corporation Ltd Officers and Supervisors Association has appealed to the Centre to investigate the “big mismatch” between the investment made in HPCL during the years 2014-15 to 2017-18 and the assistance received by the company during that period.
The association in a letter to the Union minister of heavy industries and public enterprises, Arvind G Sawant on Wednesday referred to his reply in the Lok Sabha on July 9, 2019 that an investment of Rs 4,141 crore was made in HPCL during the four-year period.
“We like to inform you that as per records available, the assistance received from government of India by Hindustan Paper Corporation Ltd during the years 2014-15 to 2017-18 is Rs. 481.0839 crore,” the letter to the minister by the association, read.
Details of the investment made and aid received were highlighted in the letter by the association in the form of two tables.
The association expressed surprise that there is a big mismatch between the investment made in HPCL during the period and assistance received.
“Based on the facts there is no scope to agree to the central government investment in HPC. Had there been such a big investment then the mills would have been in operation till date and the employees would have been receiving their monthly salary regularly,” the letter read.
Hindustan Paper Corporation is a public sector undertaking having only two units – Nagaon Paper Mill (NPM) and Cachar Paper Mill (CPM) in Assam.
Production in Cachar Paper Mill has been suspended since October 20, 2015, while operations at Nagaon Paper Mill at Jagiroad came to a halt on March 13, 2017.
