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Strong PSUs must aid weak: Govt

business Updated: Feb 10, 2009 20:16 IST
Samiran Saha
Samiran Saha
Hindustan Times
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The government is keen that fiscally sound public sector enterprises (PSE) should “tag” weaker units in the sector, in

order to help their revival.

“The Prime Minister’s office and the Finance Ministry are very keen that those public sector companies that are already doing very well should get themselves listed in the (stock) market,” Nitish Sengupta, chairman, Board for Reconstruction of Public Sector Enterprises (BRSPE) told reporters.

“They should also tag the weaker PSEs with them so that they could also be brought on the road to revival,” he added.
BRPSE advises the government on strategies, measures and schemes related to the modernisation, revival and restructuring of public sector enterprises.

Sengupta said most of the PSEs that are in a bad shape could be revived, provided they are taken over, new plant and machinery are brought in, finances introduced and the product-mix changed to suit current market requirements.

“Like BHEL, agreed to acquired Bharat Heavy Plate & Vessels Ltd., companies like Coal India can acquire Bharat Coking Coal, and the Eastern Coal Fields and NTPC can look at acquiring Indian Cable and Co as it would help create synergies for all these well-to-do PSEs,” Sengupta said.