Wednesday, 27 December 2017

Revival and Restructuring of CPSEs


Revival and Restructuring of CPSEs

GOVERNMENT OF INDIA
MINISTRY OF FINANCE
LOK SABHA
UNSTARRED QUESTION NO: 1375
ANSWERED ON: 22.12.2017
Revival and Restructuring of CPSEs
SHRIKANT EKNATH SHINDE
DHARMENDRA YADAV
ANANDRAO ADSUL
PRITAM GOPINATH MUNDE
Will the Minister of

FINANCE be pleased to state:-
(a) whether the ailing Central Public Sector Enterprises (CPSEs) need revival and restructuring and if so, the details thereof:
(b) whether the Government has issued guidelines for revival and restructuring of such ailing CPSEs and if so, the details thereof:
(c) whether the private participation is also being considered in this regard and if so, the details thereof: and
(d) the extent to which these guidelines will be beneficial for revival and restructuring of these CPSEs?

ANSWER
THE MINISTER OF STATE IN THE MINISTRY OF FINANCE
(SHRI PON. RADHAKRISHNAN)

(a) to (d) Department of Public Enterprises (DPE), as a nodal department, have issued guidelines on 29.10.2015 for “Streamlining the mechanism for revival and restructuring of sick/ incipient sick and weak CPSEs”. CPSEs function under the administrative control of various Ministries/ Departments. As per the guidelines, the responsibility for addressing the sickness of Central Public Sector Enterprises (CPSEs) lies with the concerned administrative Ministries/ Departments. The administrative Ministries/ Departments monitor the sickness of CPSEs and identify the sick/ incipient sick/ weak CPSEs functioning under their control based on the performance and take timely redressal measures. The concerned administrative Ministries/ Departments formulate revival/ restructuring plans, which may include disinvestment or privatization, for the CPSEs on a case-to-case basis. Guidelines lay down that the process for revival and restructuring of sick / incipient sick and weak CPSEs be made time bound, comprehensive, performance driven and efficient.

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