Here is good news for the Indian Drugs and Pharmaceuticals Limited (IDPL) which is awaiting a central revival plan.
Top bosses of IDPL's Rishikesh plant here said that Prime Minister Manmohan Singh has assured that he would look into the matter pertaining to the IDPL's revival plan.
The assurance came when veteran Congress leader N D Tiwari visited the Rishikesh plant of the IDPL this week. After holding talks with the top mandarins of IDPL, Tiwari rang up the Prime Minister, who quickly received his call. After talking to the Prime Minister for a while, Tiwari handed over the phone to G S Bedi, General Manager of the plant.
Bedi briefed the Prime Minister about the functioning of the IDPL. On the other hand, the Prime Minister told Bedi that he would look into the revival plan of the company. "This is good news for us that the Prime Minister gave us a positive assurance,” Bedi told Business Standard.
Bedi also claimed that IDPL would do much better this year as compared to the previous year. The Rishikesh plant is working on less than its half capacity due to various constraints like reduced manpower. However, despite all constraints, the factory has added 20 new formulations raising the total products to 60 now. "We last year did a business of Rs 15 crore and are hopeful to better it by 20 to 30 percent this year too," said Bedi.
The factory is showing signs revival at a time when a proposal related to the revival of the IDPL is at the advance stage. According to the plan, the centre is likely to give clearance for the sale of excess land of the IDPL.
The Rishikesh factory was set up in 1967 at a vast 850 acres of land. However, in 1990s, the IDPL moved the Board for Industrial and Financial Reconstruction (BIFR) for its revival plan after incurring losses.
The Rishikesh plant used to make bulk drugs like penicillin, tetracycline and others but incurred losses mainly due to the high costs. "Now we are not making bulk drugs," said Bedi.
The plant is now supplying contraceptives like Mala D and other emergency pills to the ministry of health.
