(a) the number of NTC mills modernized so far;
(b) whether the modernization process initiated by the Government earlier had been totally unsuccessful;
(c) if so, the reaction of the Government thereto;
(d) whether the fund earmarked for modernization is being utilized for other purposes; and
(e) if so, the reaction of the Government thereto and the steps taken in this regard?
MINISTER OF STATE IN THE MINISTRY OF TEXTILES
(SHRI E.V.K.S. ELANGOVAN)
(a) : NTC is in the process of modernizing 22 of its mills under the revival scheme.
(b)&(c): Board for Industrial Financial Reconstruction (BIFR) has approved Revival Scheme for NTC in 2002, envisaging closure of 65 unviable mills and revival of 52 viable mills. Out of 52 mills, 22 mills are to be modernized by NTC itself and 29 mills through joint venture route. The modernization process was initiated by NTC in July,2005 only.
(d)&(e): NTC is implementing a self financing Revival Scheme and funds are being generated by NTC from the sale of its own surplus assets.