8/16/2019 Five Sick PSUs to Be Closed Down_ Govt in Lok Sabha - Times of India

1/2

2/5/2016 F i v e si ck PSU s to be cl os ed dow n: Govt i n Lok Sabha - T i m es of Indi a

http://ti m esofi ndi a.i ndi ati m es.com /i ndi a/F i ve- si ck - PSU s - to- be- cl osed- dow n- Govt- in- Lok - Sabha/ar ti cl es how pr int/46527552.cm s 1/2

The governent told Lok Sabha said there were 65 units in the list of sick 

 PSUs as of Ma rch 3 1 l ast y ear.

Five sick PSUs to be closed down: Govt in Lok SabhaPTI | Mar 11, 2015, 02.46 PM IST

Printed from

NEW DELHI: Five public sector undertakings (PSUs) will be

closed down by the government, which has included some of 

the best known state-run enterprises like Air India, MTNL and

Hindustan Shipyard, in the list of 65 sick PSUs, Lok Sabha was

informed on Tuesday.

The five state-run organizations to be closed down include three HMT

units whose brand of watches and tractors once ruled the market, heavyindustries minister Anant Geete said during Question Hour, adding that

their employees were being offered a "very good" VRS package.

READ ALSO: HMT watches may be ticking back to life

HMT breaks hearts with its time-up call 

However, he did not name the other PSUs which are slated to be closed down.

Air India and MTNL, once market leaders in aviation and mobile telephony sectors respectively, were declared sick as per the

criteria for a PSU to be declared as such, after they incurred losses worth 50 per cent or more of their average net worth during

four preceding years.

http://timesofindia.indiatimes.com/business/india-business/HMT-watches-may-be-ticking-back-to-life/articleshow/44943730.cmshttp://timesofindia.indiatimes.com/business/india-business/HMT-watches-may-be-ticking-back-to-life/articleshow/44943730.cmshttp://timesofindia.indiatimes.com/india/HMT-breaks-hearts-with-its-time-up-call/articleshow/44656415.cmshttp://timesofindia.indiatimes.com/business/india-business/HMT-watches-may-be-ticking-back-to-life/articleshow/44943730.cmshttp://timesofindia.indiatimes.com/

8/16/2019 Five Sick PSUs to Be Closed Down_ Govt in Lok Sabha - Times of India

2/2