 "Six CPSEs closed down in five years: Patel")
New Delhi: As many as 6 Central Public Sector Enterprises (CPSEs) have closed down in the last five years, Parliament was informed today.
“Six CPSEs have been closed in the last five years. These are Bihar Drugs and Organic Chemicals Ltd, Indian Oil Technologies, Brushware Ltd, Pyrites Phosphastes and Chemicals, National Instruments Ltd and Bharat Yantra Nigam,” Minister of Heavy Industries and Public Enterprises Praful Patel said in a written reply to Rajya Sabha.[caption id=“attachment_1064779” align=“alignleft” width=“380”]
Minister of Heavy Industries and Public Enterprises Praful Patel. Image courtesy PIB[/caption]
As on 31 March 2012, there were 260 CPSEs in the country employing 13.98 lakh people. Of these, 225 were in operation, and 63 had reported losses.
As many as 68 have been referred by various ministries/ departments for revival of closure or winding up to the Board for Reconstruction of Public Sector Enterprises (BRPSE) till 31 July 2013.
Replying to another query, Patel said Corporate Social Responsibility (CSR) and Sustainability norms for PSUs may have to be modified to align with the provisions of the Companies Bill recently passed by Parliament, after it is enacted and notified.
As per present guidelines, all profit-making CPSEs are mandated to create budgetary allocation on a yearly basis for CSR activities/projects to be undertaken during the year with the approval of board of directors.
PTI