Left parties opposing closure of 7 sick PSUs

The Left parties are opposing the proposal of the ministry of heavy industries to close down seven loss-making public sector undertakings (PSUs) without referring them to the proposed Board for Reconstruction of Public Sector Enterprises (BRPSE).

The Left parties are of the opinion that the move is not in consonance with the National Common Minimum Programme.

The Cabinet had recently discussed the ministry's proposal to close down Hindustan Cables Ltd, Hindustan Photo Films Ltd, National Instruments Ltd, Tungbhadra Steel Products Ltd, Triveni Structurals, Bharat Opthalmic Glass and Richardson & Cruddas Ltd.

The Cabinet had decided on the revival of 17 PSUs, including Andrew Yule and HMT, while clearing the statutory dues of 24 companies, including the seven shortlisted for closure.