Govt mulls entity to revive sick companies using CPSEs’ extra cash

Govt mulls entity to revive sick companies using CPSEs’ extra cash

FPJ BureauUpdated: Friday, May 31, 2019, 11:53 PM IST
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New Delhi : The government is mulling setting up a Finance Corporation to utilise around Rs 2 lakh crore surplus cash of state-owned enterprises lying idle in banks.

The funds may be used for purposes like reviving sick PSUs and investment in infrastructure projects. There are 70 ailing PSUs and the government believes 43 out of these can be revived.         “We are thinking of setting up a Finance Corporation to utilise the surplus cash with PSUs,” Union Heavy Industry and Public Enterprises Minister Anant Geete told PTI.

The minister said a couple of meetings have been held to discuss the proposal. Although the name and structure of the Body have not been finalised , it is being referred to as Finance Corporation as of now.

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