Government taking measures to breathe life into loss making CPSEs
The government is taking several measures to revive loss making Central Public Sector Enterprises (CPSEs). The Department of Heavy Industries, DHI has 17 CPSEs now, which are running in loss.
Government is appointing renowned consultants through competitive bidding for formulation of appropriate revival plan and strategy so as to strengthen them to minimize their losses and become profit earning organizations.
In addition to reviewing the performance of each CPSE periodically, the Department also extends budgetary assistance. It also provides support for financial investment plans for technological advancement of the manufacturing processes of these CPSEs.
Out of 15 Public Service Enterprises (PSEs) which were revived and restructured recently, 8 PSEs have started making profit. Some of the ailing PSEs like HMT, NEPA, NPPC, SIL are undergoing process for approval of the government for revival and restructuring.
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Month: Current Affairs - July, 2012