64 CPSEs sick as on March 2012: Praful Patel

NEW DELHI: There were 64 sick Central Public Sector Enterprises (CPSEs), including Hindustan Cables, HMT Watches and ITI Ltd, as on March 31, 2012.

"According to the Public Enterprises Survey 2011-12, there were 64 sick CPSEs as on March, 31 2012," Minister of Heavy Industries and Public Enterprises Praful Patel said in a written reply to the Rajya Sabha.

These sick units include HMT Bearings Ltd, HMT Chinar Watches, NEPA Ltd, ITI Ltd, Tyre Corporation of India, Hindustan Cables and Scooters India Ltd, he added.

Patel said as per the government resolution, a CPSE is considered sick if it has accumulated losses in any of the financial year, or a CPSE which is a sick company within the meaning of Sick Industrial Companies (Special Provisions) Act, 1985 (SICA).

In January this year, the Cabinet had approved a Rs 200- crore revival package for ailing Scooters India Ltd (SIL).

The Board for Reconstruction of Public Sector Enterprises (BRPSE), which was set up in 2004, is an advisory body to the government on revival and restructuring of sick PSUs.