The Union Cabinet
chaired by the Prime Minister Shri Narendra Modi has approved the sale
of surplus land of Hindustan Antibiotics Limited (HAL), Indian Drugs &
Pharmaceuticals Limited (IDPL), Rajasthan Drugs & Pharmaceuticals
Limited (RDPL) and Bengal Chemicals & Pharmaceuticals Limited (BCPL), as
would be required, to meet their outstanding liabilities. In this way,
the national assets would be utilized in the best national interest.
The sale would be through open competitive bidding to government
agencies and the outstanding liabilities will be met from the sale
proceeds. Voluntary Retirement Scheme (VRS) / Voluntary Separation
Scheme (VSS) will also be implemented in these Public Sector
The remaining part of the land will be managed in accordance with the
guidelines of the Department of Investment & Public Assets Management (DIPAM)
and Department of Public Enterprises (DPE).
After meeting the liabilities, steps will be taken to close IDPL and
RDPL. The option of strategic sale will be explored for HAL and BCPL.
The Department of Pharmaceuticals, the administrative department for
these undertakings, will take time bound follow-up action.