Govt prepares Rs 1,000 crore revival plan for Hindustan Paper Corp

Key highlights:

• The government has firmed up a Rs 1,000 crore plan to revive Hindustan Paper Corporation
• Through  involvement  of private sector in certain activities and settlement of dues
• The go-ahead to the revival plan was given at a meeting of the inter-ministerial group chaired by the prime minister earlier this month

The government has firmed up a Rs 1,000 crore plan to revive Hindustan Paper Corporation through involvement of private sector in certain activities and settlement of dues, official sources said.

The go-ahead to the revival plan was given at a meeting of the inter-ministerial group chaired by the prime minister earlier this month, the sources said.

The inter-ministerial group has been tasked with undertaking turnaround of Hindustan Paper Corporation and government think tank NITI Aayog has been entrusted with overseeing implementation of the revival plan.

"A Cabinet note is being prepared for settlement of the company's liabilities to the tune of Rs 1,000 crore, including payment of salaries to its 1,500 odd employees (barring Hindustan Newsprint Ltd) and clearance of outstanding statutory bank liabilities," a senior Heavy Industries Ministry official told

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