Centre rules out Kerala’s participation in HLL divestment

Thiruvananthapuram, March 9 (SocialNews.XYZ) 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.

Source: IANS