Govt Clears Revised Norms for Time-bound Closure of Sick PSUs
The guidelines accord first priority to utilisation of land of central public sector enterprises (CPSEs) under closure for affordable housing as per the relevant guidelines of the Ministry of Housing and Urban Affairs.
File Photo of PM Narendra Modi with his mother.
New Delhi: The government on Wednesday approved revised guidelines for time-bound closure of sick and loss making central public sector enterprises and the disposal of their movable and immovable assets.
The decision was taken at a meeting of the Union Cabinet chaired by Prime Minister Narendra Modi here. The guidelines accord first priority to utilisation of land of central public sector enterprises (CPSEs) under closure for affordable housing as per the relevant guidelines of the Ministry of Housing and Urban Affairs.
"The revised guidelines would reduce delays in implementation of closure plans of sick/loss making CPSEs. These guidelines will replace the guidelines issued by the Department of Public Enterprises in September 2016.
"These guidelines provide a broad framework for expeditious completion of various processes and procedures for closure of CPSEs by laying down important milestones in the closure process along with time-lines, outlining the responsibilities of the concerned Ministries/Department/CPSE etc in the process," an official statement said.
They also provide for advanced preparatory action to be taken by administrative ministry/department or CPSE, preparation of closure proposal, settlement of statutory and other liabilities of the CPSE under closure and modalities for disposal of movable and immovable assets in a time-bound manner.
Get the best of News18 delivered to your inbox - subscribe to News18 Daybreak. Follow News18.com on Twitter, Instagram, Facebook, TikTok and on YouTube, and stay in the know with what's happening in the world around you – in real time.
Subscribe to Moneycontrol Pro and gain access to curated markets data, trading recommendations, equity analysis, investment ideas, insights from market gurus and much more. Get Moneycontrol PRO for 1 year at price of 3 months. Use code FREEDOM.
|Power Grid Corp||211.15||2.92|
Recommended For You
- In Pics: Taking a Sneak Peek into 13 Reasons Why Season 3, Find Out Who Killed Bryce Walker?
- Streaming Now: Sacred Games Gets Bigger in Season 2, It's Game Over for Taapsee Fans
- Gay Penguin Parents Who Tried to Hatch Stone Get Presented With Real Egg
- Bajrang Punia to Get Rajiv Gandhi Khel Ratna Award 2019
- Microsoft Surface Pro 6 and Surface Book 2 Firmware Update Causing CPU Issues