The government said it had begun the process of reviving five ailing PSUs and is working on one-time settlement, involving voluntary retirement scheme entailing a cost of Rs.1,000 crore for employees of six state-run units not capable of revival.
Out of 11 sick PSUs, the process for reviving five has started and these shall be revived. However, the remaining six units, which cannot be revived, the Government have decided on making a one-time settlement proposal of VRS for the employees of these units.
PSUs for revival
- HMT Machine Tools
- Heavy Engineering Corporation
- National Electric Power Authority (NEPA)
- Nagaland Paper & Pulp Co
- Triveni Structurals
PSUs which are unfit to revive
- Hindustan Photo Films
- HMT Bearings
- HMT Watches
- HMT Chinar Watches
- Tungabhadra Steel Products Ltd
- Hindustan Cables