Industry & Economy
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PSU
Bengal may complete PSEs restructuring process by fiscal-end
Our Bureau
Kolkata
,
June 9
THE process of restructuring in 18 identified public sector enterprises in West Bengal is expected to be completed by the end of the current fiscal, according to the West Bengal Minister for Industries & Commerce, Mr Nirupam Sen.
Expressions of interest from a few prospective bidders have already been received.
The United Kingdom's Department for International Development (DFID) has provided a grant of Rs 200 crore for the successful implementation of the restructuring process.
The State Government will provide an additional Rs 25 crore to the corpus. Of the 18 PSEs that have been identified for restructuring, it has been decided to hive off 10 as joint ventures with the private sector. Two PSEs would be shut down while four would be restructured under the overall control of the State Government.
Mr Sen told newspersons here that the proposed joint ventures would be hived off as going concerns with the State Government continuing to hold 26 per cent of the equity stake in each one of them.
Stating that PSEs have to stand on their own feet and generate surplus for the State Government, Mr Sen said adequate care was being taken on the social security front pertaining to employees in these organisations.
Besides adopting the Gujarat model, the Government had made provisions for personal accident insurance and a Rs 50,000 Mediclaim cover for those employees who avail of early separation schemes and till such time as they attain the age of 60.
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