Central Govt Eyeing Rs 22000 cr By Selling Assets Of Five Sick CPSEs

30 May, Ahmedabad

Minister of Heavy Industries and Public Enterprises Anant Geete Friday said in Ahmedabad that the Centre is looking to garner 22,000 crore rupees by selling the assets of five sick central public sector enterprises (CPSEs) and the sale would be closed in the next 2-3 months.

He said these firms are HMT Watches, HMT Chinar, HMT Bearing,Tunga Bhadra Steels and Hindustan Cable Corporation. He said, since 2007 these five companies are closed.

Around 2,800 employees of these five CPSEs will be offered Voluntarily Retirement Scheme, he said.