Reviving Psus

Union Minister for Heavy Industries and Public Enterprises Prakash Javadekar today said the government always makes efforts to revive public sector undertakings that can be revived.

Communications minister Ravi Shankar Prasad said a total of 79,000 employees of BSNL and 14,000 out of 20,000 employees of MTNL have applied for the VRS scheme which the government has come out with to reduce the employee cost in these PSUs which is currently very high as compared to the industry.

The Union Cabinet on Wednesday approved the much-awaited 4G spectrum allocation to ailing telecom PSUs -- BSNL and MTNL -- and gave in-principle approval to their merger.

The BSNL-MTNL merger is "one of the many components" of the overall revival plan being worked out for the two corporations, a source said on Tuesday.

After 12-year hiatus, government is set to revive strategic sale of state-owned companies with the Cabinet likely to consider shortly the outright sale of stake in over a dozen PSUs including the profit making ones.

State-owned Coal India, gas utility GAIL and fertiliser majors RCF and FCIL will form a joint venture for revival of Talcher urea plant in Odisha, Parliament was informed on Monday.

The government is mulling setting up a finance corporation to utilize around Rs 2 lakh crore surplus cash of state-owned enterprises lying idle in banks.

BSNL losses are expected at around Rs. 8,198 crore, and that of MTNL is likely to be around Rs. 3,300 crore for the financial year 2012-13.

The government is likely to revert to the policy of using 25 per cent of the disinvestment proceeds for reviving sick public sector units and recapitalize the profitable ones from the next fiscal year.

The Planning Commission on Saturday pitched for strategic sale in sick public sector units to help them find a partner to revive the companies. "We have always said let's have a strategic sale rather than yet another restructuring...most of the time these companies say that if you help us revive, you will get more money," Planning Commission...

Union Minister for Heavy Industries and Public Enterprises Prakash Javadekar today said the government always makes efforts to revive public sector undertakings that can be revived.

Communications minister Ravi Shankar Prasad said a total of 79,000 employees of BSNL and 14,000 out of 20,000 employees of MTNL have applied for the VRS scheme which the government has come out with to reduce the employee cost in these PSUs which is currently very high as compared to the industry.

The Union Cabinet on Wednesday approved the much-awaited 4G spectrum allocation to ailing telecom PSUs -- BSNL and MTNL -- and gave in-principle approval to their merger.

The BSNL-MTNL merger is "one of the many components" of the overall revival plan being worked out for the two corporations, a source said on Tuesday.

After 12-year hiatus, government is set to revive strategic sale of state-owned companies with the Cabinet likely to consider shortly the outright sale of stake in over a dozen PSUs including the profit making ones.

State-owned Coal India, gas utility GAIL and fertiliser majors RCF and FCIL will form a joint venture for revival of Talcher urea plant in Odisha, Parliament was informed on Monday.

The government is mulling setting up a finance corporation to utilize around Rs 2 lakh crore surplus cash of state-owned enterprises lying idle in banks.

BSNL losses are expected at around Rs. 8,198 crore, and that of MTNL is likely to be around Rs. 3,300 crore for the financial year 2012-13.

The government is likely to revert to the policy of using 25 per cent of the disinvestment proceeds for reviving sick public sector units and recapitalize the profitable ones from the next fiscal year.

The Planning Commission on Saturday pitched for strategic sale in sick public sector units to help them find a partner to revive the companies. "We have always said let's have a strategic sale rather than yet another restructuring...most of the time these companies say that if you help us revive, you will get more money," Planning Commission...