Union Minister of Heavy Industries, H. D. Kumaraswamy, recently addressed the media during his visit to the Cement Corporation of India Ltd. in Bokajan, where he outlined his ambitious plans for revitalizing the cement industry through an investment of ₹700 crores. This initiative aims to strengthen the local economy and create job opportunities within the sector.
During his time in Guwahati on Monday, Kumaraswamy was accompanied by Bimal Borah, the Minister of Industries, Commerce, and Public Enterprise in Assam. Together, they discussed various pressing issues facing the region, particularly the economic difficulties plaguing the tea gardens owned by the Andrew Yule Group in Assam.
Kumaraswamy expressed deep concern for the challenges faced by tea garden workers, emphasizing the urgent need to address their plight. He mentioned his intention to visit the tea gardens in the near future to explore effective strategies for their revival.
The Union Minister expressed his gratitude to Minister Bimal Bora for advocating on behalf of the tea garden workers and for seeking his intervention to support the management in alleviating the hardships experienced by both the workers and the staff. Addressing journalists, Kumaraswamy assured that the tea garden wage earners would receive a bonus of 20%, which he sees as an important step in supporting these communities.
In addition to discussing the challenges in the tea sector, Kumaraswamy highlighted the significance of establishing a cement manufacturing unit in the Northeastern states. He reiterated his commitment to the industry by detailing his recent visit to the Cement Corporation of India Ltd. and outlining his plans for the sector’s revival.
Furthermore, Kumaraswamy expressed his satisfaction regarding the implementation of the Faster Adoption and Manufacturing of Electric Vehicles (FAME) policy in Assam. He noted that over ₹2,000 crores would be invested to set up battery charging stations, with nearly 70,000 of these stations planned across the country.
Additionally, the purchase of more than 18,000 electric buses is anticipated to support the nation’s objectives for reducing carbon emissions. In a related development, Assam’s chief secretary, Ravi Kota, recently communicated with the Union Ministry of Heavy Industries, highlighting the financial challenges faced by Andrew Yule & Co. Ltd., a Central Public Sector Undertaking.
In his letter, he sought assistance in the form of a soft refundable loan, asset monetization, or liquidation of government holdings to alleviate the financial distress. Andrew Yule operates across various sectors, including tea, engineering, and electrical services, with ten of its fifteen tea gardens located in Assam.
In his correspondence to Kamran Rizvi, the secretary of the Ministry of Heavy Industries, Kota stressed the critical situation of the company, which is vital to over 8,000 workers and their families. He warned that the ongoing financial instability could lead to labor unrest, posing a risk of law and order issues in the tea gardens.
Kota pointed out that delayed payments and outstanding statutory dues have already incited frequent demonstrations among the workers. He elaborated on the underlying challenges the company is facing, including significant crop losses attributed to fungal infestations and caterpillar damage, escalating wage costs, and a depressed tea market in the fiscal year 2023-24.
These factors have culminated in a loss of ₹9.72 crores for the company during this period. Despite an infusion of funds over the last two years, the downgrade of the company’s credit rating has hampered its access to further financial support from banks.
Given the gravity of the situation and its potential ramifications for the state of Assam, Kota urged for prompt intervention from the Union Ministry. He advocated for measures such as a soft refundable loan, asset monetization, or the liquidation of government holdings as necessary steps to help stabilize the company and protect the livelihoods of those who depend on it. The Government of Assam is deeply concerned about the potential repercussions of the ongoing financial difficulties and is seeking swift support to address this pressing issue.
