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Govt approves revival of 43 PSUs to shut 2 PSUs

By : Dhaval Patel on 22 August 2012 E-mail Print Report Abuse

The Board for Reconstruction of Public Sector Enterprises (BRPSE) has so far given its recommendations for revival of 59 CPSEs and closure of 3 CPSEs to the Government. Based on the recommendations of BRPSE, Government has so far approved revival of 43 CPSEs and closure of 2 CPSEs envisaging total assistance of Rs. 26,108 crores (cash assistance of Rs. 4,505 crores in the form of infusion of funds and non-cash assistance of Rs. 21,603 crores in the form of waivers/write offs of interest/loans, conversion of loans into equity, etc.) from Government of India. The remaining 17 cases are at different stages of consideration by the Government. 


The Department of Heavy Industry, Ministry of Heavy Industries and Public Enterprises is making all efforts for the revival of sick/loss making Central Public Sector Enterprises (CPSEs) by making them competitive and profitable.   


The Department has started the process of undertaking a fresh appraisal of the status of each such CPSE with a view to assessing the prospects of its revival on case to case basis. 


As per the process established for considering restructuring/revival of CPSEs, cases of identified CPSEs under the Department are placed before the BRPSE for suitable recommendations. 


After approval of revival schemes of sick CPSEs by the Government, funds are released to such CPSEs as sanctioned in the revival packages. 


The above information was given by the Minister for Heavy Industries & Public Enterprises Shri Praful Patel in a written reply in the Rajya Sabha. 

Source : PSU news,

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