This refers to your article ‘More manure’, February 10. It is true that the government is reluctant to pay timely subsidy to units and that fertiliser production is almost stagnant now. This has even created cash flow problems. The list of fertiliser companies turning sick is increasing each day. Some of the leading fertiliser companies like Madras Fertiliser, SPIC and FACT are incurring huge losses and may soon wind up. The remaining fertiliser companies are surviving mainly because they started as fertiliser companies but have branched off into other sectors over a period of time. One of the biggest blow has been to the Sindri township after the government decided to shut down all the public sector units based there. Fertiliser companies have responsibilities towards their shareholders and the return on investment in fertiliser companies has either been completely wiped out or has fallen sharply. This does not augur well for Indian agriculture.
M M Gurbaxani, Bangalore
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