Nursing Sick Units Back to Health

Rohit Kapoor Once blue chip Central Public Sector Enterprises (CPSEs) like BSNL, Air India, Hindustan Cables Ltd and Fertiliser Corporation of India today stand testimony as to how not changing with the changing times and technology could change their fate and turn them into sick units. However, there has been always a silver lining in […]

Rohit Kapoor
Once blue chip Central Public Sector Enterprises (CPSEs) like BSNL, Air India, Hindustan Cables Ltd and Fertiliser Corporation of India today stand testimony as to how not changing with the changing times and technology could change their fate and turn them into sick units.
However, there has been always a silver lining in this regard as the government has been relentlessly making efforts to revive maximum number of sick public sector units (PSUs) to take the country’s growth engine forward. This was possible with the help of revival packages provided by the government to these units.
With this aim, the Government set up the Board for Reconstruction of Public Sector Enterprises (BRPSE) in December 2004 to advise the government, inter-alia, on the measures to restructure/revive, both industrial and non-industrial CPSEs.
Since then cases of around 67 sick CPSEs have been referred to BRPSE up to October 2012, out of which the Board has made recommendations in respect of 62 cases, while returning five cases to the concerned ministries for further examination.
No wonder, there has been significant improvement in the overall condition of these enterprises since 2004. In comparison to 90 sick CPSEs in March 2005, there were 66 sick PSUs in March 2012. As per the BRPSE recommendations, of these cases, 45 were accepted for revival by the Government.
Most of the remaining cases are awaiting nod for revival while in case of 45 cases accepted for revival, 14 have already turned around including Bharat Pumps and Compressors, Cement Corporation of India, HEC, Andrew Yule and MECON and making profits while others have been infused with revival packages.
The companies for which revival packages have been approved include Hindustan Shipyard, HMT and Scooters India.
As the CPSEs operate under dynamic market conditions, it is quite natural to see ups and downs in their performance.
As far as the reasons for losses and sickness in CPSEs are concerned it varies from enterprise-to-enterprise. While in some cases, the cause is historical. In case of textile companies which were taken over from private sector on socio-economic considerations could not be modernised quickly.
Likewise other enterprises in the engineering and refractories sector too failed to modernise. Still others like some consumer goods companies and the new ones, turned sick over the years on account of inadequate job orders, high man-power cost, lack of finance, technological obsolescence, high input costs and competition from cheap imports.
In addition, other problems common to most sick and loss-making PSUs have been poor debt-equity structure, weak marketing strategies and slow decision-making process.
As one such policy initiative, the Sick Industrial Companies (Special Provision) Act, 1985 (SICA) brought the CPSEs under its purview in 1991 (made effective from 1992). Under the provisions of the SICA, CPSEs with at least five years of registration whose accumulated losses are equal to or have exceeded their net worth may be referred to the BIFR. During the last twenty years — between 1992 and 2011, 63 CPSEs have been referred to BIFR.
The government has made several attempts to overcome “sickness” in these CPSEs through various policy initiatives.
The strategies for revival/restructuring of sick CPSEs include financial restructuring involving investment by the government in the form of equity participation, loans, waiver of debt etc and business restructuring which includes change of management, hiving off viable units from CPSEs for formation of separate company and closure of unviable units, besides formation of joint ventures.
The other strategies include manpower rationalisation by shedding excess manpower and introduction of voluntary retirement schemes.
The contribution of each and every company is significant as CPSEs are considered as the backbone of the economy and are equal partners in the nation building.
As on March 31, 2012, there were 260 CPSEs in the country. These companies contributed Rs 1.6 lakh crore to the central exchequer by way of taxes, duties, interest on loans and dividend, amounting to 21.4 per cent of government’s revenue receipts.
(PIB Features.)

Read more / Original news source: http://manipur-mail.com/nursing-sick-units-back-to-health/

Tree plantation drive

As part of ‘Go Green Drive’ launched by HQ IGAR (South) as an initiative to maintain greenery in the state of Manipur, Headquarters 9 Sector Assam Rifles carried the campaign forward by tree plantation at Keithelmanbi in which a number of fruit and flower bearing tree saplings were planted. Brigadier MK Das, Commander, Headquarters 9 […]

As part of ‘Go Green Drive’ launched by HQ IGAR (South) as an initiative to maintain greenery in the state of Manipur, Headquarters 9 Sector Assam Rifles carried the campaign forward by tree plantation at Keithelmanbi in which a number of fruit and flower bearing tree saplings were planted. Brigadier MK Das, Commander, Headquarters 9 Sector Assam Rifles inaugurated the drive by planting a sapling.
All the officers, troops and their families were present at the occasion and they too participated in the event with great zeal and enthusiasm. As a run up to the celebrations on the ‘World Environment Day’, a series of tree plantations have been planned across the Imphal Valley with an aim to restore the natural balance which has been disturbed due to large scale deforestation.

Read more / Original news source: http://manipur-mail.com/tree-plantation-drive/

Manipur woman dies in Delhi – Calcutta Telegraph

Manipur woman dies in DelhiCalcutta TelegraphNew Delhi, May 29: A 22-year-old woman from Manipur, identified as Leinganphi, was found dead inside her rented accommodation at Malviya Nagar in south Delhi this afternoon. Police initially suspected it to …

Manipur woman dies in Delhi
Calcutta Telegraph
New Delhi, May 29: A 22-year-old woman from Manipur, identified as Leinganphi, was found dead inside her rented accommodation at Malviya Nagar in south Delhi this afternoon. Police initially suspected it to be a case of suicide. However, they did not

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Manipur girl found dead in south Delhi flat – Times of India

IANSManipur girl found dead in south Delhi flatTimes of IndiaNEW DELHI: A woman from Manipur was found dead inside her rented flat in south Delhi under mysterious circumstances, police said on Wednesday. The deceased, Reingamphy (21), stayed in B block…


IANS

Manipur girl found dead in south Delhi flat
Times of India
NEW DELHI: A woman from Manipur was found dead inside her rented flat in south Delhi under mysterious circumstances, police said on Wednesday. The deceased, Reingamphy (21), stayed in B block of Chirag Dilli. The body was found around 2pm when
Woman from Manipur found dead in Malviya nagar flatHindustan Times
Manipuri woman found dead in mysterious circumstancesZee News

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Woman from Manipur found dead in Malviya nagar flat – Hindustan Times

Woman from Manipur found dead in Malviya nagar flatHindustan TimesA 21-year-old woman from Manipur was found dead at her rented south Delhi accommodation on Wednesday afternoon with the police suspecting it to be a case of suicide. According to the pol…

Woman from Manipur found dead in Malviya nagar flat
Hindustan Times
A 21-year-old woman from Manipur was found dead at her rented south Delhi accommodation on Wednesday afternoon with the police suspecting it to be a case of suicide. According to the police, the incident was reported from Reingamphy's room located in

Read more / Original news source: http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNEQ6wo3FSxpuM541M1juCozoiHY7Q&url=http://www.hindustantimes.com/India-news/Delhi-Metro/Woman-from-Manipur-found-dead-in-Malviya-nagar-flat/Article1-1067979.aspx

NHRC issues notice to Manipur government seeks ICDS report – Economic Times

Economic TimesNHRC issues notice to Manipur government seeks ICDS reportEconomic TimesGUWAHATI: National Human Rights Commission has issued notice to the Chief Secretary, Manipur calling for a report into allegations that the Integrated Child Developme…


Economic Times

NHRC issues notice to Manipur government seeks ICDS report
Economic Times
GUWAHATI: National Human Rights Commission has issued notice to the Chief Secretary, Manipur calling for a report into allegations that the Integrated Child Development Scheme, ICDS is not being implemented in the State properly amid misappropriation
Manipur: NHRC notice on poor anganwadi centresHindu Business Line

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Manipur: NHRC notice on poor anganwadi centres – Hindu Business Line

Manipur: NHRC notice on poor anganwadi centresHindu Business LineNational Human Rights Commission on Wednesday issued a notice to Manipur Government over alleged misuse of funds in the Integrated Child Development Scheme in the state. The rights panel …

Manipur: NHRC notice on poor anganwadi centres
Hindu Business Line
National Human Rights Commission on Wednesday issued a notice to Manipur Government over alleged misuse of funds in the Integrated Child Development Scheme in the state. The rights panel has given six weeks' time to the state government to submit a

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NHRC queries Manipur on alleged poor state of anganwadi centre – Business Standard

NHRC queries Manipur on alleged poor state of anganwadi centreBusiness StandardAccording to an NHRC statement, the commission has issued a notice to the Chief Secretary of Manipur after recieving a complaint from an NGO 'Wide Angle Social Developme…

NHRC queries Manipur on alleged poor state of anganwadi centre
Business Standard
According to an NHRC statement, the commission has issued a notice to the Chief Secretary of Manipur after recieving a complaint from an NGO 'Wide Angle Social Development Organisation' based in Manipur which alleged that most of the 'anganwadi'

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Read more / Original news source: http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNH7UY6uHIKccFRezvl4PAjlSk4gFQ&url=http://www.business-standard.com/article/pti-stories/nhrc-queries-manipur-on-alleged-poor-state-of-anganwadi-centre-113052900529_1.html