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Centre rules out Kerala's participation in HLL divestment
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SME Times News Bureau | 09 Mar, 2022
The Centre has ruled out the participation of the Kerala Government in
the strategic disinvestment process of the state capital city
headquartered HLL, a mini-ratna public sector undertaking. Chief
Minister Pinarayi Vijayan said the weekly cabinet meeting held here has
entrusted him to take up the matter with Prime Minister Narendra Modi.
The Central government gave its "in-principle" approval
for HLL's disinvestment in July which sought bids for a 100 per cent
stake sale in the company by January 31, 2022.
It was to this the
Kerala government evinced interest and decided to participate in the
tender process, but the Centre in its latest order ruled out state
government or other PSEs to take part in the tendering process.
Established
in 1966, HLL has come a long way as part of the implementation of the
Family Planning Programme of Government of India under the Ministry of
Health & Family welfare. From a contraceptive manufacturing company
to a total healthcare company, in its growth trajectory, it has won
numerous accolades not only from the government but at international
level too.
At present there are close to 10,000 employees in
various categories at HLL which include 3,900 direct employees and the
rest of contract third party and laboratory staff.
The HLL have
by now supplied medical devices to various medical institutions in 29
states and 7 Union Territories. The HLL ended the previous fiscal with a
turnover of Rs 5,081 crore and had a profit of Rs 112 crore
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