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The Centre has wound up the Board for Reconstruction of Public Sector Enterprises (BRPSE) as part of its new strategy to revive and disinvest sick public sector units.
The Board for Reconstruction of Public Sector Enterprises (BRPSE) under the Department of Public Enterprises was set up over a decade ago in 2004 by the earlier United Progressive Alliance as an advisory body to address the task of strengthening, modernisation, reviving, and restructuring.
“The Government has decided to wind up BRPSE to streamline the multiple mechanisms for the revival of sick Central Public Sector Enterprises,” said a notification by the Ministry of Heavy Industries.
Sources said a decision to this effect was taken by the Union Cabinet at its meeting on November 7.
DPE had in October issued fresh guidelines for the revival and restructuring of sick PSUs. Meanwhile, the Finance Ministry is finalising the contours of a strategy for disinvestment in sick PSUs.
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