Winding-Up of PSUs
Thursday - April 13, 2017 2:15 am ,
Category : INDIA
Department of Public Enterprises (DPE) has no information on Central Public Sector Enterprises (CPSEs) which have been wound up since, 2014. As per the information available with DPE, 19 CPSEs have been approved for closure since, 2014. The details of these CPSEs, State-wise with location (Registered Office), are given in Annex.
CPSEs function under the administrative control of various Ministries/Departments and all matters relating to CPSEs including closure are dealt by the concerned administrative Ministries/Departments. The reasons for closure vary from CPSE to CPSE which may include persistent losses, resource crunch, low productivity, unsustainable business operations, old and obsolete plant & machinery, outdated technology, low capacity utilization, poor debt–equity structure, excess manpower, weak marketing strategies, stiff competition, lack of business plans, heavy interest burden, high input cost, etc.
The interests of the employees are kept in view by the administrative Ministry/Department while formulating closure plans which include provision of VRS, settlement of employee related dues, statutory dues, etc. Further, the Counselling, Retraining & Redeployment (CRR) Scheme of the Government provides opportunities of self/wage employment to the employees or their dependents separated under Voluntary Retirement Scheme (VRS)/ Voluntary Separation Scheme (VSS) or retrenched due to closure/restructuring of the CPSEs. The Scheme aims at providing short duration skill development/ entrepreneurship development training programmes to equip the beneficiaries for self/ wage employment.-WTN
