13 May 2012

PSEs Revival by BRPSE

The Board for Reconstruction of Public Sector Enterprises (BRPSE) has made recommendations for revival of 59 Central Public Sector Enterprises (CPSEs). 

The Government has approved revival of 43 CPSEs. The remaining cases are under examination/process by the concerned administrative Ministries /Departments. 

The Government had approved, on the recommendations of BRPSE, a scheme for attracting top managerial talent to sick CPSEs. It provides for considering extension of tenure upto 65 years of Chief Executives and Functional Directors, who have contributed to the turnaround of the sick CPSE and a lump-sum incentive upto maximum of Rs. 10 lacs out of the profits of the CPSE. On the basis of recommendations of BRPSE, the Department of Public Enterprises is in the process of formulating a policy for enhancement of age of superannuation from 58 to 60 years for employees of sick and loss making CPSEs. 

The above information was given by the Minister for Heavy Industries & Public Enterprises Shri Praful Patel in a written reply in the Lok Sabha today. 

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