Employees of public sector fertilizers and chemicals are concerned that the fertilizer manufacturer, who had registered a profit in six years from 2018-19, may slip in financial troubles because the severe shortage of raw materials killed the company during the first three quarters of the current year.
Employees are also concerned that the company is short of full -time Chairman and Managing Director (CMD) at this critical turn. SC Mudgerikar, CMD, CMD, is additional charge of national chemicals and fertilizers. Kishore Rungta, who was a full -time CMD, left the post at the end of his term a year ago.
The lack of raw materials has reduced comparatively in the fourth quarter, but the situation in West Asia in the first quarter affected free shipping of raw materials such as rock phosphate and phosphoric acid.
George Thomas, general secretary of the Fact Workers Organization, said that in these difficult times, decision making was to be quick and efficient because competition was prevalent, and there were many field operations of the fact that included fertilizer, petrochemical and engineering and design. A full -time CMD can smooth the decision making process, he said.
Employees are also demanding a mini gem status for the company, which they feel, the company consider that its net value is positive and other criteria are satisfied to meet the situation. They consider that obtaining the status of a mini gemstone between the PSUs will help in taking advantage of its position in the market as well as making decisions independently.
The employees appealed to the government to consider mentioning the situation on the fact in view of their history of good performance in the last six years.
According to the Employees Union, Fact’s financial performance will get a major boost if Caprolactactam production is resumed and expanded facility for factamfos production is commissioned. The union leader said that there was a decrease in work on the latter project and there was a need to intensify for commissioning.
Employees have appealed to the state government to withdraw tax on LNG as it will generate more income from the company as employment and taxes.
Published – March 14, 2025 01:53 AM IST
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