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THIRUVANANTHAPURAM: The Industries Minister, Mr V.K. Ibrahimkunju, has described as baseless and misleading reports appearing in section of the Press to the effect that buildings and property belonging to four public sector undertakings (PSUs) have been put on the block.

An official spokesman quoted the Minister as saying that the State Government has not taken a decision on handing over any loss-making PSU to the private sector.

The Enterprises Reform Committee (ERC) set up to recommend ways for revamping PSUs had made a suggestion that four such units be handed over to the private sector. Both the Bureau for Industrial and Financial Reconstruction and the Appellate Authority for Industrial and Financial Reconstruction had recommended closure of one of these units. These four companies put together have accumulated losses of Rs 83 crore against net capital of Rs 72 crore and implemented VRS.

The ERC had floated specific recommendations in respect of these unities, which were wrongly interpreted by interested parties, the Minister said.

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