If appears that the CIRC has become totally insensitive to public consternation over their lack of progress in completing their assignment.
It has now become certain that the CIRC establishment is more seized of finding ways to prolong their life rather than revamping the economy by infusing fresh life in the sick structure of closed industrial units.
Their claim to have disposed of 80 sick units out of nearly 4000 units is not at all backed by ground facts.
They give figures only but not the names of the so-called disposed of units.
On the other hand there are cases where fresh owners/bidders have accepted all terms and conditions and deposited 10% down payment since long and are prepared to pay the rest in one go, but their cases are hanging fire for quite some time.
The 11th meeting of the board was held in August 2003 and since then all is quiet on the CIRC front.
It is unfortunate that the CIRC people feel themselves above accountability. I wonder who can take them to task?
Needless to say that each closed unit carries the capability of providing employment to hundreds of people.
Their revival has been all the more facilitated by unimaginably low mark-up and easy financing.
The CIRC is doing great dis-service to the country's economy.
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