Putting Firhad Hakim at the helm of the Housing Infrastructure Development Corporation (Hidco) will not help in finding investors for land as the market is in recession. The view was put forth by Gautam Deb, housing minister in the Left Front regime who was the first chairman of Hidco.

“Recession is for everyone. Even if Mamata Banerjee is made the chairperson, it will not help Hidco find a market,” he said.

In course of his speech at the launch of his book Forging an Audacious City on the birth of New Town, the former minister praised chief minister Mamata Banerjee for letting a bureaucrat steer New Town and not ministers. For the last 10 years, Debashis Sen, an IAS officer, was the chairman cum managing director of Hidco.

Hidco has now been transferred to the administrative jurisdiction of the housing department. Sen will continue as its managing director.