No Plans to Revive NGEF Company in Hubballi: Minister

Bengaluru: Karnataka state government has no any proposal or plan to revive the company, NGEF (Hubli) Ltd  which is facing huge financial loss for the last 7 years, said Karnataka State Industries Minister RV Deshpande speaking in legislative council session on Saturday. The government has lost Rs 21.09 crore by the company, he said. 

Meanwhile, speaking on The Mysore Paper Mills Ltd, the minister stated that the government lost Rs 596.47 crore by the company and the company will be handed over to a third party on contract basis for its revival. The government has brought VRS and VSS scheme to the permanent and temporary employees of the company, the minister said.