Imphal, July 12: Strongly pitching in for the revival of the Manipur Industrial Development Corporation, Commerce and Industries Minister Th Debendra yesterday told the Assembly that if MANIDCO is not revived and allowed to fester and fade away then it would deal a death blow to the industrial movement in Manipur.

Joining in the discussion for the demand for grant for the Commerce and Industries and Weights and Measure Depts totaling an amount of Rs 17,05, 35,000, the Minister said the liabilities of MANIDCO at the present is Rs 50 crores.

He told the House that MANIDCO will launch a loan recovery drive soon.

Defaulters will be pulled up and duly punished.

Towards this end a State Loan Recovery Act will be implemented, he added.

Pointing out a number of positive points associated with industrialization, MPP president O Joy said that no country or State can develop without industrialization.

Even though India has completed 50 years of independence Manipur is yet to feature on the industry map of the country, Joy rued.

Stating that no project or industrial unit set up by the Government has succeeded Joy said that the Manipur Spinning Mill has retrograded so far because the process of recruiting employees to the mill was highly politicized.

All the industrial units were set up at great cost and perfunctorily closing them down on the ground that they are not performing would be wrong.

Joy opined.

Debendra said the main factor for the slow death of the spinning mill was the failure of the mill to maintain a minimum level of output.

The Minister further said that the mill was overstaffed.

As the Govt do not have the resources to revive the mill plans are on to privatize it, he said.

On the Hundung Cement Factory, which is another case of a sick PSU, the Minister said the site selection, was wrong adding that the expert team did not properly test the soil before setting up the factory.

He said the Govt will study the feasibility of re-locating the factory to a more suitable site.

In this connection a study team from the NEC will arrive soon.

The Khadi and Village Industries Board will also start a campaign to recover the loans taken from the Board, the Minister further said.