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Bengal to revamp loss-making PSUs

Our Bureau

KOLKATA, July 14

THE West Bengal Government is planning to restructure chronically loss-making public sector units under it, according to Mr Nirupam Sen, Industry Minister.

Addressing the members of the Indian Chamber of Commerce (ICC) here on Friday, Mr Sen said that the committee, which was examining the status of the chronically ailing state PSUs, would give its report soon and based on the recommendations, the action pl an would be firmed up within this fiscal.

The Government was open to the idea of divesting its stake in favour of a private sector partner if a sick unit could be revived that way, he said, not ruling out at the same time the closure option. ``Whatever course the Government opts for -- divestmen t or closure -- the workers' interest will be fully protected'', he observed.

The years of efforts, he pointed out, yielded results in some cases with some of the units administered by the Public Undertakings Department showing improvement in performance. ``While seven are reporting operating profits, nine others have reduced the ir losses this year'', he said.

Jute industry problems: The Minister informed that a committee had been formed by the Government to tackle the problems of the jute industry. The committee comprised, among others, representatives of the Indian Jute Mills Association and jute experts. Th e committee is chaired by Mr Md Amin, Labour Minister. ``The Government is serious about reviving the jute industry'', he said.

Emphasising the need for reducing the time taken for granting clearances to set up new factories, he said that the district administration had been advised to settle things at their level to expedite the process of mutation. A committee of officials had been constituted to expedite other clearances, he added.