A Group of Ministers (GoM) on statutory dues of sick PSUs is considering a budgetary support of around Rs 750 crore to clear the outstanding dues of 28 sick PSUs. The GoM has also directed the Ministry of Heavy Industries & Public Enterprises to bypass the Board for Industrial and Financial Reconstitution (BIFR) for the closure of sick units. The PSU dues are in the region of Rs 2,100 crore.With total outstanding dues of 66 sick PSUs pegged at over Rs 2,100 crore, the GoM headed by Planning Commission Deputy Chairman K.C. Pant in its meeting on Thursday also decided that PSUs which could liquidate dues from internal resources or sale of assets should be asked to take time-bound action. The ministry will move a proposal for an enabling provision for the disposal of assets of PSUs which are beyond redemption. The GoM had also directed the department of public enterprises to classify the 73 defaulting PSUs into four categories: profit-making PSUs; the PSUs which could mobilise their own resources to clear their dues; the PSUs which had no readily-available resources but owned assets that could be disposed of; and the PSUs which had neither readily-available resources nor disposable assets.
