A committee headed by NTPC Chairman Arup Roy Choudhury has endorsed the Government’s view on revival of sick public sector undertakings with the help of cash-rich PSUs. The committee has submitted its report to the Ministry of Heavy industries and Public Enterprises. It had been asked to examine the feasibility of cash-rich Maharatnas, Navratnas and other Central public sector enterprises (CPSEs) seeding a a joint venture (JV) company that would revive sick PSUs. A senior Heavy Industries Ministry official said there would be consultations with cash-rich PSUs and accordingly, a detailed note would soon be put up before the Cabinet for a final decision. Profitable PSUs have over ₹2 lakh crore of cash lying with them, mainly in banks. Heavy Industries Minister Anant Geete recently said there are 70 sick PSUs, of which 43 can be revived. However, according to an answer given by the Ministry in Parliament, there were 61 sick CPSEs as on March 31, 2013, with over 1.53 lakh employees.
Posted on: Fri, 10 Oct 2014 02:42:38 +0000
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