labels: industry - general, economy - general
Govt approves revival plan for 19 sick central unitsnews
17 August 2006

Mumbai: The government has approved revival packages for 19 sick central public sector enterprises (CPSEs), minister for heavy industries and public enterprises Sontosh Mohan Dev informed the Lok Sabha.

These are among 30 firms whose revival has been recommended by the Board of Reconstruction of Public Sector Enterprises (BRPSE), the minister said in reply to questions.

In some cases, BRPSE has recommended revival through joint venture or disinvestments while, in the case of Cement Corporation of India Ltd, it has suggested that non-operating units be closed but other operating units be revived, he said.

The government has approved closure plan for Bharat Ophthalmic Glass Ltd as recommended by BRPSE, he said.

The minister noted that 41 CPSEs have been piling up losses for five years. He 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 on the lines of the erstwhile BIFR to advise the government on ways of modernising, reviving and restructuring CPSEs.


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Govt approves revival plan for 19 sick central units