PESB examining reasons for sickness among CPSEs

The Public Enterprises Selection Board (PESB) is conducting a study to examine the reasons for sickness among some PSUs.

 

"We have just initiated the exercise to examine the reasons for sickness among some PSUs," PESB Chairman Atul Chaturvedi told PTI.

 

The Board would try to find out the factors, other than basic ones like funds shortage and obsolete technology, for sickness in public sector units (PSUs).

 

"We are collecting the data. We are making an effort to analyse the fundamental reasons for sickness. Are there other reasons beyond the basic reasons like funds shortage or obsolete technology for sickness among PSUs? We want to know that," he said.

 

As on March 31, 2012, there were about 66 sick units out of the total 260 CPSEs in the country.

 

HMT Watches, HMT Chinar Watches, HMT Bearings, Triveni Structurals, Tungabhadra Steel Products, NEPA, Hindustan Cables Ltd and Hindustan Photo Films Manufacturing are among the sick companies.

 

"We will give these recommendations to Minister of Heavy Industries and Public Enterprises Praful Patel once we examine these factors to adress sickness issue," he said.

 

The government has set up the Board for Reconstruction of Public Sector Enterprises (BRPSE) in 2004 as an advisory body to the government on reviving sick PSUs.