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March 23, 2001
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Money > Business Headlines > Report March 23, 2001 |
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Jogi's stand on Balco may drive investors awaySandip Das Chhattisgarh Chief Minister Ajit Jogi's move to project an 'industry friendly' image of the newly carved out state to the investors has received a setback with his support to the striking workers of Bharat Aluminium Company (Balco) in Korba. Balco workers at its plant here are on strike for more than two weeks protesting against its sale to Sterlite Ltd and the new management has already been contemplating a lockout in the plant. Meanwhile, the state government is also about to announce its industrial policy and senior government officials said that a draft of the proposed industrial policy had been circulated among the ministers and is expected to get the shape of a policy over the next few weeks. "Jogi's move would force potential investors to have a second look at the state before moving in," a senior official with National Thermal Power Corporation plant here said. He said the government should focus more on development of industries in the power surplus state instead of concentrating on raising political issues. However, most of the small industrialists in this tribal-dominated state are not taking Jogi's suggestion of buying out Sterlite's 51 per cent stake in Balco, 'seriously'. "The government should instead improve infrastructure such as roads and communications which are in a bad shape," an industrialist said. Another small enterprise owner in this industrial township suggested that the new government should initiate the process of rehabilitating about 1500 sick units in the state out of which more than 800 units are in Raipur-Bhilai-Bilaspur-Korba belt alone. The proposed industrial policy being prepared by the state government envisages development of industrial areas in each of the 16 districts, giving industry status to agriculture and tourism and simplification of labour laws. The industry experts said that the proposed policy should be aimed at accelerating industrial development, attracting capital investment, ensuring balanced regional development and providing employment opportunities to a large section of unemployed youths specially among the tribals.
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