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Study conducted for revival of loss-making PEC: Nirmala

Press Trust of India  |  New Delhi 

A study has been carried out by a consultancy firm for the revival plan of loss-making trading firm PEC, Commerce and Industry Minister said today.

PEC Ltd has made losses during the last two financial years, she said.

As per memorandum of understanding signed by PEC with the Department of Commerce for 2015-16, the minister said, "PEC has got a study conducted by a professional consultancy firm for preparation of revival plan" as per the guidelines of the Department of Public Enterprises.

Out of six central public sector undertakings of the ministry, STC Ltd and PEC Ltd are making losses.

STC, which was making losses since 2008-09, filed a winding in the High of in 2013, which is pending for disposal.

Replying to a separate question, she said so far 16 rounds of negotiations were held for the agreement between and European Union.

The negotiations started in 2007 and after 16 rounds, the last being in 2013, "withdrew from the negotiations due to some outstanding issues," Sitharaman said.

After that, both the sides held four rounds of stocktaking meeting in order to proceed with the talks.

In a separate reply, she informed the Lok Sabha that has so far initiated 203 anti-dumping and two countervailing (anti-subsidy) investigations involving China since January 1994.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, March 20 2017. 16:07 IST