Question : CLOSURE OF HINDUSTAN VEGETABLE OIL CORPORATION LTD.

(a) whether the Government propose to close down the Hindustan Vegetable Oil Corporation Ltd.;

(b) if so, the reasons therefore;

(c) the details of the profit earned and losses suffered by the company during each of the last three years;

(d) the number of employees working in the company at present;

(e) whether the Government have decided to offer Voluntary Separation Scheme to the employees of the above company;

(f) if so, the details thereof; and
(g) if not, the steps taken to safeguard the interests of the employees?

THE MINISTER OF STATE IN THE MINISTRY OF CONSUMER AFFAIRS, FOOD AND PUBLIC DISTRIBUTION ( SHRI SREENIVASA PRASAD )

(a) & (b) : The Hindustan Vegetable Oils Corporation (HVOC) has been incurring losses since 1991-92. The Board of Industrial Finance and Reconstruction (BIFR), has declared HVOC a sick industrial company. The Government has informed the BIFR that it does not consider it feasible to attempt revival/rehabilitation of HVOC and a Voluntary Separation Scheme (VSS) has been offered to the employees of HVOC.

(c) : Details of loss for the last three years are as follows:-

Year	Loss (Rs. in rores)
1997-98	28.23	1998-99	07.69	1999-2000	26.30(provisional)