New Delhi: On National Highway Infrastructure and Development Corporation Limited’s (NHIDCL) fifth inception day, Union Road Transport and Highway Minister Nitin Gadkari not only pulled up the public sector undertaking (PSUs) for its performance but sent a clear message that the company will have to improve its performance and stop surviving on doles from the government.
“NHIDCL was founded with a mandate to connect the North-East and mountainous terrains in Uttarakhand, Himachal Pradesh and Jammu & Kashmir. The company’s order book is current at Rs 2,16,000 crores. The PSU has surmounted terrain challenges to make it happen,” noted Gadkari while addressing employees of the state-owned enterprise and various stakeholders involved in the sector.
‘NHIDCL needs to introspect’
While pointing out that the success and the profitability of NHIDCL’s richer cousin, National Highway Authority of India (NHAI), is a case in point, Gadkari asked the PSU to self-introspect and review the past with a view to apply the learning to the future.
“Credibility is the biggest capital in the market. And that’s where NHAI has an edge. NHIDCL needs to strengthen itself financially, just like NHAI has,” Gadkari remarked.
‘Use government capital as equity’
The Union minister also asked the state-owned enterprise to use government capital as equity and move towards making income on its own. He also asked NHIDCL to improve road construction from the current 2 km per day a year to 7 km per day annually.