By IANS
Kolkata : The Centre has approved the restructuring of four ailing Public Sector Enterprises (PSE) in West Bengal.
"Four PSEs have been approved to undergo thorough revival and reconstruction in West Bengal. These are: Andrew Yule & Company Ltd, Bridge & Roof Company Ltd, BBJ Construction Company Ltd and Braithwaite & Company Ltd," Minister of Heavy Industries & Public Enterprises Santosh Mohan Dev said here Friday.
The Board for Reconstruction of Public Sector Enterprises (BRPSE) had referred 25 PSEs to the ministry seeking approval for reconstruction. But it has been decided to revive 13 of them so far, including four in West Bengal, Dev said, at a seminar on 'Central Public Sector Enterprises (CPSE) in West Bengal' at the Bengal National Chamber of Commerce & Industry (BNCCI).
The ministry has provided cash assistance of Rs.12 billion and non-cash support of Rs.36.5 billion to the PSEs that are being revived and restructured.
"Now 11 PSEs, including three in West Bengal, have started paying salaries and wages on their own. These include Braithwaite & Co Ltd (BCL), Tyre Corporation of India Ltd (TCL), and Burn Standard Co Ltd (BSCL) in Kolkata," Dev said.
At present, there are nine Navaratna PSEs, including Bharat Heavy Electricals Ltd (BHEL) under the ministry. Following the recommendation of the apex committee, seven more PSEs would be granted Navaratna status shortly, he said.