Process gathers momentum

THE PROCESS to merge the British India Corporation Limited (BICL) with the National Textile Corporation (NTC) has picked up pace. A team of senior NTC officials is likely to visit soon to prepare a feasibility report.

THE PROCESS to merge the British India Corporation Limited (BICL) with the National Textile Corporation (NTC) has picked up pace. A team of senior NTC officials is likely to visit soon to prepare a feasibility report.

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According to well-placed sources in the BICL, the consultant for the process would also be finalised within a day or two, as interviews for the same were being conducted by the Union Ministry of Textile (MoT).

The NTC in all probability will send a team of experts to the BICL to assess the on-ground realties within a month. Besides evaluating its property and current status, the team would also assess the condition of BICL’s three closed cotton mills- Elgin mill-I, Elgin Mill-II and the Kanpur Textile Mill.

Talking to Hindustan Times state general secretary of the NTC Staff Association, Rajendra Trivedi said during their meeting with NTC chairman cum managing director (CMD), KR Pillai last week, he had expressed concern over the merger.

“Pillai also said a team of experts from the NTC is being sent to examine all the merger-related issues in practical terms,” said Trivedi. Pillai had also expressed his keenness to restart one of the closed mills after merger, provided the team of experts reported positive about the merger, he added.

However, talking to HT trade union leaders expressed apprehensions about the merger due to the several legal complications involved. They also raised the issue of difference in wages of the employees in the two organisations.