Karnataka to revive sick state-run companies

Karnataka Industries Minister Murugesh Nirani on Friday said his department had come up with a new plan to revive government undertakings that have become sick or loss-making.

He was speaking to reporters after inaugurating his Vidhana Soudha office with a puja.

“There are several corporations and institutions such as Kalaburagi Cement Corporation, Mysuru Sugar Company (Mysugar) and Mysore Paper Mills that are on the path of bankruptcy,” Nirani said.

He said he discussed the revival plan with union ministers during his recent trip to New Delhi. “I won’t allow the closure of industries during my tenure. I’ll try to make them function 24 hours,” he said.

Nirani asked officials to identify sick corporations at taluk, district, state levels and prepare a blueprint for their revival.

The minister further added that the government had plans to use 21 acres of land belonging to Mysore Lamps and NGEF to build theme parks.

The government will make sure land allotted by the Karnataka Industrial Area Development Board (KIADB) is used for the intended purpose. “I will order a survey if the allotted land is being misused. There is no provision to use KIADB land for other purposes and we won’t do sale deeds,” Nirani said.

The minister said ease-of-doing-business and creation of jobs will be his priority. “We will conduct industrial adalats at the district-level and provide doorstep delivery of services to industries. We will also create more jobs for educated youths who have done ITI, BA, B.Com, B.Sc, M.Sc and PhD,” Nirani said.

To woo investors, the state government will appoint officers to be a part of the Invest India scheme.

GIM to be postponed?

The government’s flagship global investors’ Invest Karnataka in February next year may have to be rescheduled depending on the Covid-19 situation, Nirani hinted. The summit was earlier planned in November 2020.

Recalling his previous tenure as industries minister, Nirani said: “We conducted two successful global investors meets and the state attracted over Rs 11.8 lakh crore investments creating over 15 lakh jobs. We created a land bank by acquiring lands unfit for farming to promote industries,” he said.