By Our Staff Reporter
PONDICHERRY, APRIL 1. The Pondicherry Textiles Corporation (PTC) has taken over with immediate effect the Bharathi Mills and Swadeshi Cotton Mills here run by the National Textiles Corporation (NTC).
In a suo moto statement, the Chief Minister, N. Rangasamy, today, announced in the Assembly, after Question Hour, the takeover by the PTC (which is already running the State Government-owned Anglo French Textile Mills since 1985).
Mr.Rangasamy said the Government took over the mills keeping in mind the interests of the workers of to the century-old mills and to ensure uninterrupted functioning of the units.
A memorandum of understanding would be signed by the Pondicherry Chief Secretary and the NTC Chairman to effect the transfer, Rangasamy said. (The industrial history of Pondicherry has been intertwined from pre merger days with the role of the textile mills.
The Government made sustained efforts to ensure that the NTC did not wind up the two mills in view of their contribution to the Union Territory's economy.)
Legislators cutting across party lines welcomed the announcement during a debate on budget proposals.
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