Department of Heavy Industry will send a proposal to the Union Cabinet seeking approval for the takeover of the Palakkad unit of Instrumentation Limited by the Kerala government, Union Minister Anant Geete said today.
"The Kerala Government has agreed in-principle to the takeover proposal of the Palakkad unit of Instrumentation Limited, which has been making profits. Therefore a proposal in this regard will be sent to the Cabinet," Geete told reporters here.
However, the Minister said that the Rajasthan Government has rejected the proposal to take over the Kota unit of Instrumentation Limited, which has been in the red since many years.
Employees of the Palakkad unit have been demanding that the government either delink it from its loss-making mother unit at Kota or merge with a profit-making PSU.
The government had earlier approved hiving off profit-making Rajasthan Electronics and Instruments Limited (REIL) from its parent company Instrumentation Ltd and turning it into an independent central public sector enterprise (CPSE) under the Department of Heavy Industry.
