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Tuesday, December 7, 2021
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Two paper mills of Assam to be sold at e-auction on December 24

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The Assam Industrial Development Corporation (AIDC) had already written to liquidator Kuldeep Verma in this regard in a letter dated November 11.

Kuldeep Verma, the liquidator of Hindustan Paper Corporation (HPC), has set a Rs 700 crore reserve price for an e-auction to be held on December 24, 2021, in a recent development involving the collapsed paper mills in Assam.

This follows the state government’s offer of Rs 300 crore to buy all of Hindustan Paper Corporation’s (HPC) mills in Jagiraod and Panchgram.

Why they are being sold

According to official sources, the Nagaon Paper Mill requires 600 metric tonnes of coal each day to operate. The country’s largest public sector paper factory, however, was forced to close due to financial difficulties in getting the fuel required to run the mill. It was losing Rs15 crore per day due to a lack of raw materials. Locals later wanted a corruption-free authority to oversee the mill, but their demands were ignored.

Hindustan paper mill assam The North-Eastern Chronicle

Assam Government’s assistance

In a meeting months ago, Assam’s Chief Minister Biswa Sarma decided to provide assistance to all HPC employees and to purchase HPC’s property and other assets.

The state cabinet approved the relief package’s amount, which will be determined by the amount of PF, gratuity, pension, wages, and other debts claimed and admitted before the liquidator. Schoolteachers and HPC’s contractual co-operative staff will also benefit from the relief. The Assam government will also assist workers/employees who have not completed their service in obtaining jobs in the new industries that will be constructed on HPC property.

Earlier The Congress in Assam has asked Prime Minister Narendra Modi to halt the auction of two Hindustan Paper Corporation (HPC) mills in the state. The apex body of employees of the Nagaon Paper Mill in Jagiroad, near Guwahati, and the Cachar Paper Mill in Panchgram, near Silchar, is the Joint Action Committee of Recognised Unions (JACRU).

Also Read: ASSAM: RAIJOR DOL PRESIDENT AKHIL GOGOI DENIES TO MERGE WITH TRINAMOOL; SAYS NO COMPROMISE ON ASSAMESE IDENTITY

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