7 PSEs to get Navaratna status soon: Mohan Dev

Kolkata, May 25: Seven Public Sector Enterprises(PSEs) will get Navaratna status following the approval of Public Sector Enterpise Board(PSEB) which is yet to give a nod to the appointment of the Independent Directors for these PSEs.

Speaking on the sidelines of a programme organised by Bengal National Chamber of Commerce and Industry, Minister of Heavy Industries and Public Sector Santosh Mohan Dev today said, ''In order to get Navaratna status, all the seven PSEs will have to appoint independent directors.

PSEB will approve the directors and they will get the Navaratna status by next two months.

He said the apex committee has already recommended the grant of Navaratna status to seven PSEs. These are Bharat Electronics Ltd and Hindustan Aeronautics Ltd(HAL) in Bangalore, NALCO in Bhubaneswar, National Mineral Developnment Corporation in Hyderabad, Power Finance Corporation, Power Grid Corporation of India Ltd and Rural Electrification Corporation in New Delhi.

''We are also strengthening the sick PSUs as commited in our National Common Minimum Programme. So far 75 sick CPSEs have been identified which had been referred to the Board for Reconstruction of Public Sector Enterprises(BRPSE),'' he said. Out of these 75 cases of 57 PSEs would be examined by the BRPSE. The BRPSE has suggested revival and restructuring packages for 43 PSEs out of the 57. The Centre would provide total cash assistance of Rs 1951 crores for the revival and non-cash support of Rs 5709 crores. Central Inland Water Transport Corporation in Kolkata, Eastern Coalfields in Burdwan and Bengal Chemicals&Pharmaceuticals would get assistance through this scheme.

The Centre has so far provided cash assistance of Rs 1200 crore and non-cash support to the CPSEs that are being revived and restructured under their supervision.

UNI