By SNV Sudhir
Visakhapatnam, Oct 4, 2012: The much awaited merger of Bharat Heavy Plate and Vessels Ltd (BHPV) with BHEL is making the former firm’s employees restless as its fate hangs in balance at the PMO’s door.
It is learnt that the said merger is likely to get delayed by six months as it requires a Union Cabinet's approval.
The merger, however, has been recently approved by the BHEL Board which is scouting for a legal firm to facilitate the merger. The formal procedures for the merger have been completed and the file has been forwarded to the Prime Minister’s Office.
The BHPV-BHEL merger has been due ever since Prime Minister Manmohan Singh had announced it in 2008.
Despite the announcement that BHPV would be completely merged with BHEL, the former was made only a subsidiary in May, 2008. Since then, BHPV’s trade unions and local representatives have been pressing for merger.
“It may take at least five months for Union Cabinet’s nod,” said a person close to the development.
Also, workers are skeptical that the merger will happen anytime soon. “Union ministers have been telling us that it will happen soon. But, nothing has materialsed yet,” said CITU president, Ajay Sarma. Meanwhile, rate contract vendors and around 25 ancillary units of the BHPV are bearing the brunt of this delay as the settlement of their bills is being procrastinated.
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