Help will be extended to re-start closed mills – Minister

27 Jan '10

1 min read

Union Minister of State for Heavy Industries, Arun Yadav while speaking after inauguration of the 65th All India Textile Conference said, the disinvestment process of Public Sector Units (PSUs) have not been discontinued and the discussions in this regards were going on and if everything goes right, then 10 to 15 PSUs may be disinvested after the budget session, within a year's span.

He said that, there was favourable condition for PSU's to raise finance through public issue and that a survey has also been carried out in this regard which revealed that 80 percent of the people were keen to invest in the public issues of these PSUs.

When asked regarding the probable disinvestment of Bharat Heavy Electrical Limited (BHEL), engaged in manufacturing equipment for power generating sector, Yadav remarked, it to be too early to comment regarding the same.

The government was inclined on improving the financial conditions of the PSUs by resorting to tools like disinvestments, public issues and tie ups with private concern. Yadav also guaranteed to extend all possible assistance to the local administration for restarting the closed textile mills.

Fibre2fashion News Desk - India

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