Latest News & Events

BRPSE Organizes Seminar on Restructuring & Strengthening of CPSEs

  Bangalore , October 12, 2011:

The Board for Reconstruction of Public Sector Enterprises (BRPSE), an advisory body set up by the Government to address to the task of strengthening, modernization, reviving, and restructuring of Central Public Sector Enterprises (CPSEs) and advise the Government on strategies, measures and schemes related to them, organized an interactive session for Central PSEs of Southern India on “Restructuring & Strengthening of CPSEs” in Bangalore on October 11, 2011. The session was attended by the Chief Executives from these enterprises. Besides ITI Ltd, Bharat Heavy Plates and Vessels Ltd., Fertilizers & Chemicals Travancore Ltd., Karnataka Trade Promotion Organization, HMT Ltd., HMT Bearings Ltd., Karnataka Antibiotics & Pharmaceuticals Ltd., Hindustan Shipyard Ltd., HMT Machine Tools Ltd., Hindustan Photofilms Manufacturing Co. Ltd., Hindustan Newsprint Ltd., Hindustan Flurocarbons Ltd., Electronics Corporation Ltd., Bharat Dynamics Ltd., Madras Fertilizers Ltd., Bharat Heavy Electricals Ltd., Mishra Dhatu Nigam Ltd., Tungabhadra Steel Products Ltd., Spices Trading Corporation Ltd., Kudremukh Iron Ore Co. Ltd., Bharat Electronics Ltd., HMT Watches Ltd., Tamilnadu Trade Promotion Organization, participated in the session.

Addressing the session Dr. Nitish Sengupta, Chairman, BRPSE stated that GoI has approved revival of 42 CPSEs out of 59 CPSEs recommended for revival by BRPSE. It is noteworthy that 23 CPSEs out of that 42 CPSEs have posted profit in 2009-10. Out of them, BRPSE had felicitated 11 turnaround CPSEs in March, 2011 which have posted profits consistently for three years. BRPSE has further identified 2 more CPSEs namely Andrew Yule & Company ltd., and Hindustan Prefab Ltd. which will be give recognition as turnaround CPSEs. He appreciated the efforts put in by the management and employees of these companies which have staged a comeback. He was of the opinion that if CPSEs follow the discipline of balance sheet, there would not be any sick CPSE. He hoped that more and more sick CPSEs will turnaround and join the family of turnaround CPSEs in the coming days.

Other speakers Dr. Sharat Kumar, Adviser, Department of Public Enterprises and Mr. K.L. Dhingra, CMD, ITI Ltd also lauded the turnaround companies and the efforts made by BRPSE in this regard. Ms. S. Rawla, Secretary, BRPSE welcomed the delegates, while Mr. V.K. Jindal, Director, DPE thanked the participants.

The interaction provided an opportunity to CPSEs to deliberate key issues concerning CPSEs such as autonomy, professionalization, sharing experience in revival of sick CPSEs so that BRPSEs can make appropriate recommendations to the Government for addressing these issues.

  ITI Visit:

Dr. Nitish Sengupta, Chairman, BRPSE, Ms. S. Rawla, Secretary, BRPSE and others also visited ITI’s Corporate Office and addressed the top executives of the Company and planted samplings in the premises as goodwill gesture.

Gopal Sutar
Deputy General Manager [Corporate Public Relations]
ITI Limited
Bangalore-560016
E mail:gopals_crp@itiltd.co.in