The chairman of the Board for Reconstruction of Public Sector Enterprises (BRPSE), PK Basu, today said the disposal of assets of public sector undertaking, and their closure, would be the board's last option.Basu told reporters after the first meeting of the BRPSE that the board will work towards helping sick industries turn around. Currently, there are over 100 sick public sector enterprises.The members, who attended the meeting, included Arvind Pande, former Sail chairman, Sushil Khanna, faculty member, IIM Kolkata and TS Vijayaraghavan, former secretary, heavy industries and public enterprises. Among others who attended the meeting was Adarsh Kishore, secretary, heavy industries, NS Sisodia, disinvestment secretary and D Swarup, expenditure secretary.Kishore said the ministry governing sick PSEs will be instrumental in formulating a proposal for restructuring and preparing a comprehensive package for revival. The package will indicate the statutory dues and suggest ways to liquidate them.The board, however, reserves the powers to accept, modify or reject the proposal or revert to the concerned ministry for its re-examination. The board would also take the advice of experts, if necessary, said Kishore.The board will hold consultations with relevant authorities, including the ministries of finance and labour, and financial institutions and the state governments. It may also recommend concessions like waiver of interest, penalties, taxes or loans. The board is also expected to indicate the source of funds for the revival package.The BRPSE will make recommendations within two months from the date of receipt of the complete proposal from the administrative ministry and fix a reasonable time frame for the implementation of the package. The recommendations of the board will be advisory in nature.The government intends to decide on reviving ailing public sector enterprises based on their "innovative capacity" "" cash flow, profitability, growth rate and earning power. This would be in addition to their "implementation capacity", comprising expertise, marketing, technology and funding.