IIPM PUBLICATION
Overflowing
weed, shrubs and an eerie silence greet you as yousaunter across the ruins. Stray cattle walk here and there; moss clings from a cement structure that was once a wash room. Seventy three year old Ram Naresh Jha whispers philosophically, “ Once upon a time; you had the most amazing parties here”. Jha retired as a kind of caretaker many years ago from Heavy Engineering Corporation whose sprawling factory cum campus dominated Ranchi (capital of Jharkhand) till the late 1970s. HEC was one of the temples of modern India that Jawaharlal Nehru hadso eloquently dreamt and talked about. Now, HEC is a ghost town, the factories long since closed, the clubs and sports grounds desolate and crumbling houses of managers and workers testimony of a dream that failed. Across India, you will find many such dead public sector companies; some gone for good and many surviving on life support. Juxtapose this with frequent laments from free market fundamentalists that India’s biggest bane has been the existence and sustenance of public sector units (PSUs) and you might well be tempted to think that the glory days of Indian PSUs are well and truly over.For Complete IIPM Article, Click on IIPM Article
Source : IIPM Editorial, 2007
An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative
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