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Revival of loss making PSUs

Written by: Staff

New Delhi, Dec 5 (UNI) The Government today told the Rajya Sabha that based on Public Enterprises Survey 2004-05, there were 54 continuous loss making Central Public Sector Enterpries (CPSEs).

Replying to a question, the Minister of Heavy Industries and Public Enterprises Sontosh Mohan Dev informed that the Government has constituted a Board for Reconstruction of Public Sector Enterprises (BRPSE) in December 2004 to undertake the task of study and analysis of the possibility of strengthening, modernising, reviving and restructuring of loss making CPSEs.

On relief to employees of profit making PSUs, the minister said that it has been agreed by the managements of CPSEs under the adminstrative control of Ministry of Petroleum and Natural Gas that the Board of these CPSEs may consider relief in terms of performance related payments to their officers within the guidelines of Department of Public Enterprises (DPE).

Mr Dev further said that Performance Related Payments within the provisions of DPE guidelines may be provided by the management of profit making CPSEs.

For the revival of HMT, the Minister said that HMT Machine Tools Ltd has been incorporated as subsidiary of HMT Ltd since April 1, 2000 and comprises Machine Tools complexes located at Bangalore, Kalamassery, Hyderabad, Ajmer and Pinjore.

A comprehensive revival plan in respect of the subsidiary has been formulated by the company which includes capital expenditure, repayment of VRS loans and long term loans and discharge of other liabilities.

He said that revival proposal is under consideration of the government.


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