Shimla: Himachal Pradesh State Industrial Development Corporation (SIDC) is expected to earn a profit of Rs 4.36 crore during 2013-14.
This was stated by Industries Minister Mukesh Agnihotri while presiding over the meeting of the SIDC Board, according to an official press release here on Saturday.
He stressed upon the need for expansion of the activities of the Corporation so as to make it more vibrant and self-reliant.
Agnihotri said that time-bound and amicable settlement of various loan cases should be ensured in order to avoid litigation and waste of time.
Reviewing the progress of SIDC, he said it should play a pro-active role in industrial development of the state, and added that the activities of the corporation have increased with the merger of Nahan Foundry and Small Scale Industrial Export Corporation.
Agnihotri, who reviewed the progress of General Industries Corporation, said that it has earned a profit of Rs 3.61 crore during the current financial year, up to February, 2013.
The board also gave its consent to allow GIC to sell 500 kg of silk yarn and approved various welfare initiatives for the employees of the Corporation.