Revival of Sick Units
The Government has approved the revival of 42 CPSEs based on the recommendations of Board for Reconstruction of Public Sector Enterprises(BRPSE). Out of these 42 Central Public Sector Enterprises(CPSEs), 13 CPSEs(Annex) have posted profits consecutively for 3 or more years till 2010 after the approval by the Government.
69 CPSEs had been identified as sick on 31 March, 2010.
As per the definition given in the BRPSE’s Resolution, a CPSE will be considered ‘sick’ if it has accumulated losses in any financial year equal to 50% or more of its average net worth during 4 years immediately preceding such financial year and/or a CPSE which is a sick company within the meaning of Sick Industrial Companies (Special Provisions) Act, 1985 (SICA).
The above information was given by the Minister of Heavy Industries and Public Enterprises Shri Praful Patel in a written reply in the Lok Sabha today.
List of 13 CPSEs posted profit consecutively for three or more years
S.No. Name of the CPSE
1 Bharat Pumps & Compressors Ltd.
2 Cement Corporation of India Ltd.
3 Heavy Engineering Corporation Ltd
4 Andrew Yule & Co. Ltd.
5 BBJ Construction Co. Ltd.
6 Bridge & Roof Co. (India) Ltd.
7 Hindustan Insecticides Ltd.
8 MECON Ltd.
9 State Farms Corporation of India Ltd.
10 Mineral Exploration Corporation Ltd.
11 Braithwaite and Co. Ltd.
12 Central Electronics Ltd.
13 Hindustan Prefab Ltd.
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