Govt asks ministries to formulate package to revive sick CPSEs

Aiming to fast-track the revival of sick central public sector enterprises (CPSEs), government has asked the concerned ministries to formulate a package and submit it to the Board of Reconstruction for Public Sector Enterprises (BRPSE), Parliament was informed today.
The administrative ministries of sick CPSEs have been asked to obtain approval of the competent authority on the recommendations of the BRPSE within 8 weeks time, Union Minister of Heavy Industries & Public Enterprises Praful Patel said in a reply to the Rajya Sabha.
Patel said there were 64 sick CPSEs as on March 31, 2012. by various administrative ministries including 49 sick CPSEs as on March 31, 2012.

Out of these, 49 sick CPSEs had been referred to the BRPSE while the remaining 15 sick CPSEs have not been referred, as per the reply.
Some of the sick CPSEs not referred to the BRPSE include Air India, J & K Mineral Development Corporation Ltd, Hotel Corporation of India Ltd, Orissa Drugs & Chemicals Ltd and Ranchi Ashok Bihar Hotel Corporation Ltd.
The sick CPSEs referred to BRPSE include HMT Bearings Ltd, Hindustan Flourocarbons Ltd, Brahmaputra Valley Fertiliser Corporation Ltd, Fertiliser Corporation of India Ltd and Hindustan Shipyards Ltd, among others.