Industry & Economy
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PSU
Drop in loss-making public sector cos: Survey
Our Bureau
New Delhi
,
Dec. 20
The number of loss-making Central public sector enterprises has dropped sharply in 2005-06 to 58 from 79 in the previous year. The Government is actively trying to rope in stronger state-owned enterprises to revive under-performing ones.
"The number of loss-making companies has come down to 58 in 2005-06 from 79 in 2004-05. This has been due to the policies of the Government and the sanctioning of revival packages approved by the Board for Reconstruction of Public Sector Enterprises," the Heavy Industries and Public Enterprises Minister, Mr Sontosh Mohan Dev, said.
Releasing the Public Enterprises Survey for 2005-06, he said that during the current fiscal the number of loss-making PSEs would further come down. During the last fiscal, the number of profit making companies was up at 157, from 138 enterprises in 2004-05. Mr Dev said stronger PSUs have been asked to help turn around Bharat Heavy Plates and Vessels and Bharat Refractories. An expert group under the chairmanship of the former Steel Secretary, Mr B.L. Das, has already approved the merger of Bharat Refractories with the Steel Authority of India Ltd. A takeover of BHPV by BHEL, Engineers India Ltd, Hindustan Petroleum Corporation Ltd has been proposed.
The Survey, tabled in Parliament on Tuesday, said that the contribution of PSEs in the country's economy has risen to 11.68 per cent in 2005-06 from 11.12 per cent in the previous fiscal.
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