Affordable housing to get priority for land of CPSEs under closure: Minister

Affordable housing has been given priority for using the land of sick CPSEs facing closure, according to the revised guidelines issued by the Department of Public Enterprises.

The revised norms on time bound closure of sick and loss making central public sector enterprises (CPSEs) entail that the entire process of closure of disposal of assets is to be completed within a period of 13 months from the zero date, Minister of State for Heavy Industries and Public Enterprises Babul Supriyo said in a written reply in the Rajya Sabha.

The zero date implies the date of issue of minutes conveying the approval for closure of sick and loss making CPSE by the government.

"In the new guidelines, priority has been given for use of land of CPSEs under closure for affordable housing. The land identified for affordable housing shall undergo the process of disposal as per the guidelines of Ministry of Housing and Urban Affairs," Supriyo said.

He said the guidelines on time bound closure of sick and loss making CPSEs uniformly provide for payment of VRS or VSS at 2007 notional pay scale to employees of CPSEs under closure irrespective of the existing pay scales of the company.