Government approves Rs15,115 crore revival plan for 35 PSEs
30 Jul 2009
The central government has extended revival package of Rs15,115 crore for the revival of 35 central public sector enterprises, Arun Yadav, minister of sate for heavy industries and public enterprises informed the Lok Sabha today.
The Department of Public Enterprises (DPE) under the ministry of heavy industries, has approved financial assistance of Rs15,115 crore, including cash assistance of Rs2,921 crore and non-cash assistance of Rs12,194 crore (in the form of waivers/write offs of interest/loans etc) for revival of 35 central public sector enterprises (CPSEs), the minister stated.
Eighteen of the 35 CPSEs approved for revival by government have shown profit in 2007-08, the public enterprise survey 2007-08 showed.
The government has approved revival of 35 CPSEs as per the recommendations of the Board for Reconstruction of Public Sector Enterprises (BRPSE), he said, adding, "Up to 15 July, this year, the BRPSE had recommended revival of 55 CPSEs."
About 78 central public sector enterprises (CPSEs) have been identified as sick.
The concerned administrative ministries/departments of the CPSEs prepare future plans/revival proposals for sick companies on case-to-case basis and refer them to BRPSE for its recommendations and thereafter for approval of the government, the minister stated.