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Govt to shut down 15 loss-making PSUs

NITI Aayog has identified some compinues for the shutdown

Policy Pulse
Publish Date: Sep 27 2016 1:17PM | Updated Date: Sep 27 2016 1:17PM

Govt to shut down 15 loss-making PSUs

 The Centre has decided to close 15 loss-making public sector units, of which at least five have been cleared by the cabinet. 

 
‘The Times of India’ has quoted a source as saying that  that there were another half-a-dozen sick public sector firms , which had been identified by NITI Aayog for shut down, however their fate remained unclear in the middle of hectic lobbying by ministries, which want to keep them alive in what may be an effort to protect their turf. 
 
Petroleum ministry has opposed closing down of HPCL Biofuels, while the textiles ministry has managed to raise the issue of closure of ailing British India Corporation and Elgin Mills to the level of PMO.
 
At least three pharma PSUs were referred to a panel of ministers, which has so far opted to not to close down Hindustan Antibiotics. 
 
After Heavy Industry Ministry successfully piloting a suggestion to shut down some HMT arms and the shipping ministry getting the cabinet go-ahead for the closure of Central Inland Water Transport Corporation, Centre had sought to suggest that it was serious about shutting down chronically loss-making PSUs.