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Uncertainty over AMTZ head sends jitters to AP medical device makers

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New Delhi | Saturday, 2019 10:45:05 PM IST
Its a controversy that the Jagan Mohan Reddy-led government could do without now, especially when investor confidence in Andhra Pradesh is taking a beating.

Uncertainty continues to follow Jitendar Sharma's reinstatement at the Andhra Tech Med Zone (AMTZ) by the state government on November 28.

Sharma, roped in by the Chandrababu Naidu regime to spearhead the medical devices manufacturing sector in the state, had been removed by the YSRCP government on grounds of alleged irregularities related to the construction of the Tech Med Zone.

According to industry sources, Sharma is preparing to step down amid reports that the state government is apparently reconsidering his re-appointment.

Worried over the negative impact that Sharma's move will have on the sector's prospects in Andhra Pradesh, industry associations have written to Chief Minister Jagan Mohan Reddy, urging him to step in and ensure that Sharma remains at the helm of AMTZ.

As per sources in the know of developments, the state government is currently utilising Sharma's services in an advisory capacity and he will eventually be placed at the helm of AMTZ affairs. In view of the complaints against him, the government is proceeding cautiously, sources said.

The state is apparently keen on retaining Sharma, especially since there has been negative publicity following the recent withdrawal of some investors from the state. The state government is keen on avoiding another controversy, which could further affect investor confidence negatively in the state.

Sharma had led residuary Andhra Pradesh's efforts to establish itself as a base for the medical devices manufacturing sector, and enjoys the confidence of the sector.

Industry players are hoping that the state government will address their crisis of confidence at the earliest.

--IANS pvn/arm

( 299 Words)

2019-12-14-16:42:05 (IANS)

 
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