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Cabinet approves formation of board for PSEs' revamp

Our Bureau

New Delhi , Nov. 3

THE Government today approved the constitution of a Board for Reconstruction of Public Sector Enterprises (PSEs), which will advise on ways and means to revive such sick units.

Speaking to newspersons after a meeting of the Cabinet Committee on Economic Affairs (CCEA), Finance Minister Mr P. Chidambaram said that the seven-member board would have a non-official member as Chairman.

It will comprise three non-official members and three Secretaries of the Government of India, he added.

The intention of the board will be to consider reconstruction and revival proposals of sick PSEs, Mr Chidambaram said.

It will also monitor incipient sickness in Central PSEs and advise the Government on other matters be assigned to it from time to time.

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