New panel to replace BRPSE shortly

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PSU450It is reliably learnt that Board for Reconstruction of Public Sector Enterprises (BPRSE) is all set to be replaced with a new committee that act on faster pace.

Heavy Industries ministry is expected to move a cabinet note to close down the BRPSE (an advisory body) that was constituted in 2004 to prepare revival roadmap for the sick public service enterprises.

Reportedly, the PMO has given its in-principal nod for the closure of BRPSE and the move is looked upon as a way to clear way for the government to sell stakes in most of the 65 sick state-owned companies. The heavy industry has already presented a cabinet note for the closure six PSUs but the option would be with the government to even close down some non-viable PSUs.

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