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Central Government plans to sell off public sector undertaking running in loss
Posted on: 26/Apr/2016 9:36:21 AM
Information is gathered that the central government is planning to sell off the public sector undertakings which have been running in loss. This measure is a part of the various activities being undertaken to reduce the central government expenditure.
The central government, meanwhile, has planned to carry this out without affecting the employees of these public sector undertakings.
The Expenditure Administration Committee recommended the selling of the public sector undertakings running in loss. Based on this, the central government has initiated steps towards implementing this decision.This decision will not, in any way, affect the employees. It is understood that the central government is also exploring a compensatory monetary benefit.
As per the latest announcements made by the central government, 77 Public Sector Undertakings are running in losses. The total loss is estimated to be Rs. 27300 Crores.
Some of the public sector undertakings running in loss are Bharat Coal Mines, and Cycle Corporation of India
The expenditure Administration Committee made its recommendations in September 2014. It recommended that either the undertaking or its assets & properties could be sold.
During his last budget presentation, the central Finance Minister Mr. Arun Jaitley informed that Nidhi Aayog will analyse and decide the public sector undertakings whose shares will be sold.
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