Press Information Bureau
Government of
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BRPSE CHAIRMAN'S PRESS MEET
Kolkata,September1,2009
The Board for Reconstruction of Public Enterprises(BRPSE) is a brainchild of Prime Minister, Dr. Manmohan Singh and was set up to advise the government primarily on how to deal with the problems of ailing state-owned companies and on how to improve the performance of public sector enterprises. Apart from advising the government on cases referred to it, the Board also has power to take up examination of public sector enterprises suo moto.
The Chairman of the BRPSE, Dr. Nitish Sengupta today addressed a press meet in Kolkata during which he informed that as of now there are 240 operating Central Public Sector Enterprises (CPSEs) and 160 of them are profit making. "Gone are the days when PSEs were considered the bad boys of corporate sectors", he said. The mandate for BRPSE, Dr. Sengupta said, as given by the Prime Minister is to try for revival of the sick unit. Closure will only be considered as a last resort, he insisted. Dr. Sengupta also informed that the no. of sick PSEs are coming down sharply and at present not more than 30-40 companies are really sick. The Government's policy is that all profit making PSEs should be listed in the stock market. 40 PSEs are now registered in the BSE and NSE. Of the 10 star performers, 5 are PSEs.
Since the inception of BRPSE, proposals in respect of 63 Central PSEs have been referred to them and the Board had given its recommendation for revival of 52 PSEs to the Government benefiting 283642 employees. The Board had so far recommended closure of only 2 companies.
Besides giving recommendations on sick PSEs, BRPSE has also recommended for enhanced delegation of powers to Navratna PSEs, scheme for attracting Top Managerial Talent to sick PSEs and Policy on Purchase Preference etc.
SC/BRPC Chairman:1-Sep-09:5:57 PM
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