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The Government has decided to set up a Board for Reconstruction of Public Sector Enterprises (BRPSE). The decision was taken by the Cabinet Committee on Economic Affairs (CCEA), which met here today.
The Terms of Reference of the Board are:
to advise the Government on ways and means for strengthening public sector enterprises in general and making them more autonomous and professional;
to consider restructuring – finances, organization and business (including diversification, joint ventures, merger and acquisition) of CPSEs and suggest ways and means for funding such schemes;
to examine the proposals of the administrative Ministries for revival/ restructuring of sick/loss making CPSEs for their turnaround;
to advise the Government on disinvestments/closure/sale in full or part in respect of chronically sick/loss making companies which cannot be revived. In respect of such unviable companies, the Board would also advise the Government about sources of fund including sale of surplus assets of the enterprise for the payment of all legitimate dues and compensation to workers and other costs;
to monitor incipient sickness in CPSEs; and
to advise the Government on such other matters as may be assigned to it by the Government from time to time.
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