BRPSE chief piqued at delay in PSUs revival

New Delhi, April 20 | Updated: Apr 21 2005, 05:30am hrs
Despite clearing 20 proposals for the revival of loss making public sector undertakings (PSUs), the Board for Reconstruction of Public Sector Enterprises (BRPSE) is still awaiting government action on its recommendations. In the last four months, we have cleared proposals for revival of 20 PSUs but not a single case has gone to the Cabinet so far, BRPSE chairman Prahlad K Basu said.

The chairman has expressed dissatisfaction on the inability of the Department of Public Enterprises (DPE) to table the recommendations before the Cabinet. The BRPSE is extremely unhappy with the delay in formulation of Cabinet note on its proposals and has taken up the issue at the highest levels, official sources said.

BRPSE has recommended delegation of more powers to the boards of PSUs, as promised in the National Common Minimum Programme of the UPA government. We have also recommended performance-linked pay for officials working in PSUs, board officials said.

The board is of the view that voluntary retirement scheme (VRS) in state-owned companies must be considered as a last resort. If the option of VRS is exercised as a part of the plans to revive a company, it must be a part of the overall business plan backed by sound reasons, board members said.