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The government today said it is “open” to the induction of private sector players for the revival of sick public sector enterprises (PSEs).
“The government is open to induct private sector to turnaround companies that have the potential for revival on a case-to-case basis,” Minister of Heavy Industries and Public Enterprises Mr Praful Patel said in a written reply to the Rajya Sabha.
As of March 31, 2010, there are 59 public sector units which have incurred losses, he said adding the Centre has approved the restructuring/revival of 14 PSEs in the last three financial years (2007-2010).
The government has envisaged providing total cash assistance of Rs 14,757 crore during the period for revival of these 14 PSEs.
In another reply on improving corporate governance in PSEs, he said the government has issued guidelines under which state-run units may report their whistle-blower policy in their annual report.
The policy is a mechanism for employees to report concerns about unethical behaviour, actual or suspected fraud, or violation of the company’s general guidelines on conduct or ethic policy to the management.
“... Adequate safeguards should be provided against victimisation of employees who avail of the above referred policy...,” Mr Patel added.
There are a total of 249 central public sector units in the country.
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