Pvt sector more sick than public sector: Survey | india | Hindustan Times
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Pvt sector more sick than public sector: Survey

Contrary to perception it is the private sector that accounts for the maximum cases of sickness and closure, according to the Survey.

india Updated: Feb 27, 2006 15:06 IST
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Contrary to perception that non- performers were almost always from the public sector, it is the private sector that accounts for the maximum cases of industrial sickness and closure, according to data in the Economic Survey.

Of the total 6,775 references received by the Board for Industrial and Financial Reconstruction, 6,480 are from companies in the private sector, the Survey tabled in the Parliament said.

In the list of sick companies referred to BIFR, while 188 were PSUs owned by the state governments and 107 were central PSUs.

Of the 5,098 references that were registered with the BIFR, the board has recommended winding up of 1,234 private companies, 41 state government-owned enterprises and 31 were central PSUs.

The Board has also declared six central PSUs and 11 state PSUs as "no longer sick".

In all, the BIFR has disposed 3,762 cases till August 30, 2005. It has recommended rehablitation of 593 private companies, 24 central PSUs and 20 state PSUs.