THE Narendra
Modi-led NDA government has given its nod for closure of seven
terminally ill public sector units, including HMT Watches, that have
incurred a total loss of around Rs 3,139 crore over a period of time.
The PSUs whose
closure has been approved are...
HMT Bearings, Tungabhadra Steel
Products, Hindustan Photo Films Manufacturing Co, HMT Watches, HMT
Chinnar Watches, Hindustan Cables and Spices Trading Corporation Ltd.
Bharat Opthalmic
Glass and Bharat Yantra Nigam have already shut down their units.
Other CPSEs whose closure has been approved are running in heavy
losses.
In a written reply
in Rajya Sabha, minister of state for heavy industries & public
enterprises G M Siddeshwara said that out of 55 central public sector
enterprises (CPSEs) examined by the government, revival or
restructuring for 46 units and closure of nine units were approved.
The total losses
incurred by the seven PSUs were at Rs 3,139 crore over a period of
time.
Hindustan Photo
Films Manufacturing Company had incurred the highest loss at Rs 1,561
crore in 2012-13, followed by Hindustan Cables at Rs 885 crore during
the same period.
The once popular
watch maker, HMT Watches had incurred losses of over Rs 242 crore in
2012-13, while that of Spices Trading Corporation Ltd were at Rs 353
crore in 2013-14.
The minister said
the Board for Reconstruction of Public Sector Enterprises (BRPSE) had
recommended closure of six CPSEs and revival of 58 such units.
On the other hand,
the public sector units that have been approved for revival through
joint venture or disinvestment route include Scooters India, Tyre
Corporation of India, National Textiles Corporation and Hindustan
Antibiotics, among others.
plan for loot the land. becaz clear majority,present finance minister says,our bureaucrats are inefficient they have no idea to revive the sick psu,but the sick psu is better in the private players .if is it true than what is the use of all these inefficient bureaucrats ,our Indian bureaucrats are well known how to turn the profit making psu into sick,than guide the politicians how to loot the land.and they will get the benefits like chairman, committee,etc.after their retirement..OUR PM STILL BELIEVE THESE BUREAUCRATS. PM SAYS MAKE IN INDIA,BUT THEY SAYS CLOSE IN INDIA.
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