Revival of Sick PSUs
Last Updated at August 1, 2017 16:20 IST
Central Public Sector Enterprises (CPSEs) function under various administrative Ministries/Departments. All matters relating to CPSEs, including revival are dealt by the concerned administrative Ministries/ Departments.
Department of Public Enterprises has issued guidelines on 29.10.2015 for “Streamlining the mechanism for revival and restructuring of sick/ incipient sick and weak CPSEs: General principles and mechanism of restructuring". As per the guidelines issued on 29.10.2015, the concerned administrative ministries/ departments are responsible for monitoring the sickness of CPSEs functioning under them and taking timely redressal measures for revival/ restructuring/ disinvestment/ closure of sick/loss making CPSEs with the approval of the competent authority.
The concerned administrative Ministry/Department in consultation with Ministry of Finance take actions regarding infusion of capital in the CPSEs under their control, if required, to enable them to remain as market intervention organizations in public interest.
This information was given by Minister of State in the Ministry of Heavy Industries and Public Enterprises Shri Babul Supriyo in reply to a written question in the Lok Sabha today.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
First Published: Tue, August 01 2017. 16:20 IST