PANAJI
The future of Goa Antibiotics and Pharmaceuticals Limited (GAPL) at Tuem has come under scrutiny amidst concerns of potential closure and its impact on local employment.
This issue was raised in a recent legislative session through a starred question Mandrem MLA Jit Arolkar.
In response, Chief Minister and Finance Minister Pramod Sawant acknowledged that GAPL, managed by M/s. HLL Lifecare Limited since 2013, has faced performance challenges leading to financial losses. The Economic Development Corporation Limited (EDC Ltd.), which partly owns GAPL, oversees its operations.
Recent efforts to stabilize GAPL include an equity infusion of Rs 11.00 crore by HLL Lifecare Limited, a central Government PSU. This infusion has increased EDC Ltd.'s shareholding to 15.97% as of June 30, 2024.
When asked about concrete steps to revive GAPL, the minister highlighted that being managed by HLL Lifecare Ltd, significant measures have been initiated to improve its operational health and financial viability.
The situation underscores ongoing discussions about the economic impact and strategic importance of GAPL in Goa's pharmaceutical sector.
The government's focus remains on collaborative efforts with stakeholders to ensure the sustainability of GAPL and safeguard local livelihoods.
