A ministers' panel is believed to have discussed today strategic sale of sick public sector units (PSU), which cannot be revived.
An Empowered Group of Ministers (EGoM) met here under the chairmanship of Finance Minister Pranab Mukkherjee.
Sources said the EGoM discussed sale of sick public sector units, which cannot be revived.
However, this could not be officially ascertained.
The other members of EGoM include Heavy Industries and Public Sector Enterprises Minister Praful Patel, Planning Commission Deputy Chairman Montek Singh Ahluwalia and Law Minister Veerappa Moily.
The government was planning strategic sale of HMT Bearings and Scooters India (SIL), the two sick PSUs which have reported losses for the past several years.
In 2009-10, SIL, in which the government holds 95.38% stake, had posted a loss of Rs 22.03 crore, while HMT Bearings' net loss was at Rs 15.31 crore for the same period.
Earlier this month, Patel had said that ailing Scooters India could be considered for complete privatisation.
Located near Lucknow, SIL has an integrated automobile plant -- designing, developing, manufacturing and marketing conventional and non-conventional fuel driven 3-wheelers.
HMT Bearings is located in Hyderabad and is the only company of its kind in the public sector set-up to manufacture Ball and Roller Bearings.
Patel had also said that those companies which are "eternally sick" or not able to turn around, "I am sure the government will take a call in the near future".
