Dear
Radhika Merwin :
Read
your illuminating article re DIVESTMENT
( Business Line / 03 March )
In
this regard , you may want to read my following blog (www.hemenparekh.in>Blogs )
regards,
---------------------------------------------------------------------------------------------------
Close in India ?
Writing in Hindustan Times ( 23 July 2015 ) , Timsy
Jaipuria
provides following information about Scooters India Ltd (SIL) :
* SIL employs 1000 persons
* Incurred losses from 2002 to 2012
* Given Rs 200 crore revival package in 2013
* Expected to make loss in 2015
* Government could not find a buyer for SIL
in2011
* If SIL fails to revive , Government will
try to divest again
All of these reminded me of the following letter that I
wrote to 7,500 employees of L&T Powai Works ( individual copies in English and Marathi ), some 30 years back :
------------------------------------------------------------------------
28 Feb 1986
Dear Friends :
FLOGGING A DYING HORSE
The correct idiom is "flogging a dead
horse" but
there is every possibility that
the horse ( Scooters India ) is dead by now.
This is because the enclosed article ( Dying Horse
) about SIL
is almost 18 months old.
And as of Dec.
31, 1985, we have such 93,282 dying (or
dead?) horses in our country.
These are known as " Sick Units "
What I do not know is whether the
above mentioned figure includes public-sector ( Govt.
owned ) sick-units or not.
Most of these are sick - in fact VERY
SICK. If you wish to know how
"sick", here are some "temperature-readings" :
-----------------------------------------------------------------------
Government Unit ( PSU ).......... Loss in last 3 years (
Rs Crores )
------------------------------------------------------------------------
|
1.
|
||
|
2.
|
||
|
3.
|
||
|
4.
|
Scooters
India Ltd. (SIL).............................. 50
|
|
|
5.
|
--------------------------------------------------------------------
|
|
I understand that
the Govt. is planning to wind-up
(close-down) the first 3 units and merge the
remaining 2 units with some successful public or private sector company.
From the "Dying Horse" article, we
find that neither Bajaj nor HMT
wants to even touch Scooters India !
And no wonder
A similar company in America would perhaps
employ 500 persons whereas Scooters
India has employed 3500 persons .
If you do not believe me, next time stop and
count the number of persons pretending to dig a hole
for a faulty telephone cable !
How long before some of us muster enough courage to ask
"Am I my brother's
keeper?"
H C Parekh
General Manager ( Powai )
------------------------------------------------------------------------
It
seems , since I wrote the above-listed letter , things have not changed ! May
be the " Industrial Sickness " has spread
May
be we need to launch another initiative called , " Close in India " !
And
permitting 100 % FDI in sick units could be another " Out of Box " solution worth
considering ! Nothing to lose but something to gain
And
, the beauty is , no political party will oppose such " Privatization " !
----------------------------------------------------------------------------------
hemen parekh
23 July 2015
------------------------------------------------------------------------------------------------
hemen
parekh
Marol
, Mumbai , India
(
M ) +91 - 98,67,55,08,08
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