Govt approves Rs 15,115 crore for reviving 35 CPSEs

Giving a lifeline to revive ailing 35 Central Public Sector Enterprises (CPSEs), the Department of Public Enterprises (DPE) has sanctioned financial assistance worth Rs 15,115 crore to bring these CPSEs back on track. The minister of state for heavy industries and public enterprises has informed Parliament.

Out of the total, Rs 2,921 crore has been earmarked for cash infusion and Rs 12,194 crore has been approved as non-cash assistance, including waivers and write offs of interest and loans.

Based on a study commissioned for the Public Enterprise Survey in 2007-08, there were 78 CPSEs, which were identified as sick and needed immediate government assistance. Out of the total, 35 units of these units have been identified for revival on bullet basis on the recommendations of the Board for Reconstruction of Public Sector Enterprises (BRPSE) and nearly 55 CPSEs this year.