Revival packages approved for 19 sick CPSEs
Revival packages have been approved in the case of 19 sick Central Public Sector Enterprises (CPSEs), government informed the Lok Sabha on Thursday.
By PTI |
NEW DELHI: Revival packages have been approved in the case of 19 sick Central Public Sector Enterprises (CPSEs), government informed the Lok Sabha on Thursday.
The 19 CPSEs are among 30 firms whose revival has been recommended by the Board of Reconstruction of Public Sector Enterprises (BRPSE), set up to advise government on such companies, Minister for Heavy Industries and Public Enterprises Sontosh Mohan Dev said in reply to questions.
In the case of some of the 30 CPSEs, the BRPSE has recommended revival through joint venture or disinvestment, he said.
The BRPSE has recommended closure of Bharat Ophthalmic Glass Ltd, he said adding it has been approved.
With regard to Cement Corporation of India Ltd, it has suggested that non-operating units be closed but other operating units be revived.
Dev noted that 41 CPSEs have been incurring recurring losses for five years and said every effort will be made to revive sick companies but chronically loss-making firms will either be sold off or closed after all workers get their legitimate dues and compensation.
The BRPSE has been set up to address the task of strengthening, modernising, reviving and restructuring of CPSEs and it will advise the government on strategies, measures and schemes related to the CPSEs.
The 19 CPSEs are among 30 firms whose revival has been recommended by the Board of Reconstruction of Public Sector Enterprises (BRPSE), set up to advise government on such companies, Minister for Heavy Industries and Public Enterprises Sontosh Mohan Dev said in reply to questions.
In the case of some of the 30 CPSEs, the BRPSE has recommended revival through joint venture or disinvestment, he said.
The BRPSE has recommended closure of Bharat Ophthalmic Glass Ltd, he said adding it has been approved.
With regard to Cement Corporation of India Ltd, it has suggested that non-operating units be closed but other operating units be revived.
Dev noted that 41 CPSEs have been incurring recurring losses for five years and said every effort will be made to revive sick companies but chronically loss-making firms will either be sold off or closed after all workers get their legitimate dues and compensation.
ADVERTISEMENT
The BRPSE has been set up to address the task of strengthening, modernising, reviving and restructuring of CPSEs and it will advise the government on strategies, measures and schemes related to the CPSEs.
Download
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
