‘Shipping Co’s Rs100-crore loss is state-driven’

After the announcement of the Gujarat government's divestment from Alcock Ashdown Ltd, the leader of opposition in the state assembly, Shaktisinh Gohil, alleged that Gujarat government has driven the company to losses of Rs100 crore.

Recently, the state government launched fresh attempts to divest its stake in the Bhavnagar-based shipping company Alcock Ashdown Ltd and is likely to take a decision before March end. On Saturday, Gohil issued a statement in which he alleged that Gujarat chief minister Narendra Modi has the evil design to give away the prestigious company to his favoured industrialist.

In the his statement, he claims that despite financial help and extension of contract period, Gujarat government has turned Alcock Ashdown into a loss-making company instead of a profit-making venture. He said that with this as sole objective the company has not completed the work of a contract of Rs698.91 crore in time. Consequently, it has to pay for the delay which means loss of millions of rupees.

Since the company pleaded financial crisis, the Centre provided advance of Rs257.15 crore. Gohil pointed out that the advance was given as an exception as the Congress had pleaded for help for the company on financial ground.

"With the financial help, the company could have easily made money through this contract. But the chief minister had other plans. He wants to give away the company to industrialist friends and for the purpose, he is driving it towards loss," claims Gohil.