Visakhapatnam: Defence minister Manohar Parrikar, in response to a letter written by Rajya Sabha member T. Subbarami Reddy, stated that his ministry would take effective measures to ensure the survival of Hindustan Shipyard Limited. Mr Parrikar said the ministry was aware of the financial crisis being faced by HSL. He said financial restructuring of HSL was undertaken twice in 1997 and 2011 and this had helped the shipyard to clear legacy liabilities.
It is felt that in order to revive HSL, its ordern Responding to concerns expressed by various organisations, Mr Subbarami Reddy had written to Mr Parrikar about the shipyard. book position needed to be improved. Mr Parrikar said that his ministry was taking action in this direction and the proposal of Cyclone HudHud relief funds has been sent to the ministry of finance for inclusion in the first supplementary demands for grants. Responding to the concern expressed by various organisations and trade unions in the city, Mr Reddy had written to Mr Parrikar.
