Bengaluru: Industries Minister M B Patil assured the Legislative Council on Tuesday that the state government is making all efforts to make the Mysore Lamps a 100 per cent public enterprise.
Replying to the question by JD(S) MLC S L Bhoje Gowda, the minister said that 5.6 per cent shares in the Mysore Lamps company are owned by the private people.
“The government is trying to purchase the shares owned by private people to make it a 100% government-owned enterprise,” Patil added.
Responding to the concerns raised by various legislators about the crores of rupees worth property of the Mysore Lamps, the minister said, “The government is making its move carefully and we will not let the property belonging to the Mysore Lamps go to any private person or organisation.”
As explained by the minister, the government has 91.07% shares in the Mysore Lamps and government entity NGEF holds 3.33% shares. The remaining 5.6% shares are with the public.
“The first priority of the government is to make it completely a government enterprise and later we will think about utilising the land/property belonging to Mysore Lamps for public interest works,” Patil added. He further assured the house that in no way the Mysore Lamps and its properties would be given to private parties.
Published 13 February 2024, 22:54 IST