Govt mulling providing non-plan loan to 11 sick CPSEs

NEW DELHI: The government today said it is considering a proposal to provide non-Plan loan to eleven sick central public sector enterprises (CPSEs), including Hindustan Cables and NEPA Ltd.

"A proposal for sanction of non-plan loan of Rs 116.86 crore to 11 sick CPSEs under the Department of Heavy Industry for payment of salary, wages and statutory dues for the period from April to August 2013 is under consideration of the government," Minister of Heavy Industries and Public Enterprises Praful Patel said in a written reply to Lok Sabha.

The 11 CPSEs are Hindustan Cables Ltd ; HMT Machine Tools Limited; HMT (Watches) Ltd; HMT (Chinar Watches) Ltd; Nagaland Pulp & Paper Company Ltd; Triveni Structurals Ltd; Tungbhadra Steel Products Ltd; NEPA Ltd; HMT Bearings Ltd; Hindustan Photo Films Ltd; and Tyre Corporation of India Ltd.

Patel said 50 Central Public Sector Enterprises (CPSEs) have incurred losses continuously for the last three years (2012-13, 2011-12 and 2010-11).