BTPSE recommended revival of Hindustan Cables: Govt

The Board for Reconstruction of Public Sector Enterprises (BRPSE) had recommended revival of Hindustan Cables in association with public or private sector, Parliament was informed today.

In a written reply to the Rajya Sabha, Minister of Heavy Industries and Public Enterprises Praful Patel said, "The BRPSE had recommended the company's revival in association with public or private sector failing which complete disinvestment after cleaning up its balance sheet".

Hindustan Cables (HCL) is engaged in manufacturing and supply of telecommunication jelly filled cables, optic fibre cables and telecom turnkey services.

Further, the minister said that in case of Indian Drugs and Pharmaceuticals, the board had recommended utilisation of surplus land for financing the revival package/generating additional revenue.

"The government to provide a bridge loan of Rs 361 crore to be repaid by the company from the funds generated from sale of scrap and surplus assets (including land)," Patel said.

Also, to revive Hindustan Photo Films Manufacturing Company Ltd, the government of Tamil Nadu will issue necessary orders for implementing floriculture project to generate additional revenue of Rs 10 crore on land available with the company, he said.

To revive sick Central Public Sector Enterprises (CPSEs), the board after considering the proposals submitted by administrative ministries/departments recommend revival/restructuring packages.