Maharashtra Govt. To Disinvest Its Assets In 7 Loss-Making PSEs

07 November, Mumbai

The Maharashtra Government has decided to disinvest its assets in seven loss-making Public Sector Enterprises (PSEs) in the state.

Principal Secretary Finance Reforms Bijay Kumar said that the seven ailing PSEs in the line of disinvestment are – MAFCO, MELTRON, Maharashtra Land Development Corporation, Maharashtra Textile Development Corporation, and Vidarbha, Marathwada and Konkan Development Corporations.

The idea of closing down some of the loss-making state PSEs has been on the agenda of governments since 1990.

In 2000, the then government by an Act had set up the Maharashtra Board for Restructuring State Public Enterprises (MBRSE) to decide on disinvesting or restructuring these ailing PSUs in the state.

However in 2007, the Act was scrapped.

The MBRSE had then recommended disinvestment and revitalization of the 11 state PSEs.

Kumar informed that a High Powered Committee headed by Chief Secretary Swadheen Kshatriya is now entrusted with the task of deciding the fate of the loss-making PSUs.

The committee has asked various departments to make presentations on their status.

He further informed that the staff in such PSEs have either been offered Voluntary Retirement Scheme (VRS) or absorbed by their parent departments.

At present, there are 55 PSEs under administrative control of 20 departments of the state government.

Out of these 55 loss-making state PSEs, 14 belong to the Industries, Energy and Labour department, six belong to Social Justice Department, six belong to Water Resources department and five to Cooperation and Marketing department.