Government considering revival of Indian Drugs & Pharmaceuticals Ltd

NEW DELHI: The government today said it is actively considering the revival of Indian Drugs & Pharmaceuticals Ltd (IDPL).

"Revival scheme of IDPL is under active consideration of this department," Minister of State for Chemicals & Fertilisers Srikant Kumar Jena said in a written reply to the Lok Sabha.

The government has already approved the rehabilitation scheme of Hindustan Antibiotics Ltd (HAL) on March 9, 2006, which involves the cash infusion of Rs 137.59 crore and waiver of past loans and interest thereupon to the extent of Rs 259.43 crore as of March 31, 2005, he added.

"Similarly, the government of India also approved the revival scheme of Bengal Chemicals & Pharmaceuticals Ltd (BCPL) with a cash infusion of Rs 207.19 crore...," Jena said.

IDPL, the largest central pharma public sector undertaking in India, was formally declared sick by the Board for Industrial & Financial Reconstruction (BIFR) on August 12, 1992.