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Our Bureau

New Delhi, Aug. 18 The Union Government is yet to approve the revival of 17 Central public sector enterprises(CPSE) for which detailed revival packages have been cleared by the Board for Reconstruction of Public Sector Enterprises (BRPSE).

The BRPSE was set up by the current Union Government in December 2004 following its assurance in the National Common Minimum Programme that all efforts would be made to strengthen the public sector.

Since inception, a total of 57 sick CPSEs have been referred to the Board, of which it has cleared the revival packages for 43 companies. In addition, though initially the Board had recommended closure of two companies, namely – Fertiliser Corporation of India Ltd and Hindustan Fertiliser Corporation Ltd, at a later stage it has recommended to the Government to accord in-principle approval for reversal of its earlier decision, according to information available with the Department of Public Enterprises.

However, till date the Government has approved the revival for 26 CPSEs, leaving a backlog of 17 revival projects.

The BRPSE recommendations for the revival of 43 companies involve Government assistance worth Rs 17,927.72 crore. Of this, Rs 3,337.13 crore is cash assistance involving budgetary support either in the form of fresh equity injection or grant or loan.

The remaining Rs 14,590.59 crore is non-cash assistance involving waiver of loans and interest on loans including penal interests, waiver of guarantee fees and also conversion of loans to equities or long term debentures.

The 26 companies whose revival has been cleared by the Government involve total central assistance of Rs 8,263.68 crore, of which Rs 1,941.30 crore is cash assistance and Rs 6,322.38 crore non-cash assistance.

The total pending assistance amount for the 17 companies whose revival is yet to get the green signal from the Government stands at Rs 9,664.04 crore.

More Stories on : PSU | Sick Units

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