Union Heavy Industries Minister Anant Geete today said that out of 32 public sector undertakings (PSUs) under his ministry, 12 including Bharat Heavy Electricals Limited (BHEL) are running in losses.
"Out of 32 PSUs under my (heavy industries) ministry, 12 including BHEL were running in losses," he told reporters here.
He said BHEL, a maharatna company, will come out of the financial distress in a year as it got orders worth Rs 28,000 crore this year.
To a query, Geete blamed the alleged coal scam under the previous UPA government for the ill-health of BHEL.
"After the coal scam came to light, it resulted into short supply of the fuel which hit the power generation sector in India. The coal scam came as a cropper and the new ventures in power didn't take place as expected," he alleged.
According to the minister, however, things are changing and condition of BHEL and 11 other PSUs will improve.
To improve the financial condition of BHEL, Geete said the company was looking to manufacture equipment used in setting up of solar power plants.
BHEL is engaged in manufacturing turbines and other relevant equipments used in setting up of hydro and thermal power stations.