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Business News

Jun 07, 2018
9:06AM

Cabinet approves revised guidelines for time-bound closure of sick PSUs

Union Cabinet has approved the revised guidelines of the Department of Public Enterprises on time bound closure of sick and loss making Central Public Sector Enterprises (CPSEs) and disposal of movable and immovable assets. The revised guidelines will reduce delays in implementation of closure plans of sick and loss making CPSEs.

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 timelines, outlining the responsibilities of the concerned Ministries, Departments and CPSE in the process.

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