The Board for Reconstruction of Public Sector Enterprises wants to examine the grave financial problems of Air India, but neither the Civil Aviation Ministry nor the national carrier has responded to the BRPSE offer.
After the government shelved plan to sell out its entire stake in SIL, the Department of Heavy Industry had proposed a revival package of more than Rs 200 crore for revival of the company.
Land resources belonging to ailing companies being pitched to pvt players for new initiatives.
The government is working on a plan to nurse sick public sector units back to health before any disinvestment takes place in these companies, chairman of the PSUs revamp board Nitish Sengupta has said.
BRPSE's new chairman Nitish Sengupta has suggested that at least three ailing companies, which have been referred to the board, hive off some of their land and get into real estate development to become profitable again.
"This money will be used for the revival and modernisation of the PSUs," BRPSE Chairman Nitish Sengupta said. He said instead of providing budgetary support, the option of land sale could be considered for the revival of units in some cases. Elgin Mills in Kanpur, Kolkata-based National Jute Mills, National Textiles Corporation and HMT are among those which have been permitted to sell their surplus lands.
Finance Minister P Chidambaram on Thursday made a double pitch for public sector companies. First he urged private sector companies to enter into joint venture partnership with PSUs
Either the stake in these companies will be sold or they may partner private firms.
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