New Delhi: Seven more Central Public Sector Enterprises (CPSE) are likely to be granted Navratna status as their cases have been cleared by the Apex Committee said the Government on Thursday.
The existing nine Navratna companies are Bharat Heavy Electricals Ltd, Bharat Petroleum Corporation Ltd, Gas Authority of India Ltd, Hindustan Petroleum Corporation Ltd, Indian Oil Corporation Ltd, Mahanagar Telephone Nigam Ltd, National Thermal Power Corporation Ltd, Oil and Natural Gas Corporation Ltd and Steel Authority of India Ltd. Apart from the nine Navratna companies, there are 44 other companies fall under Miniratna PSEs.
"The Apex Committee considered the proposals in respect of eight CPSEs and recommended conferment of Navratna status to seven... Navratna status is granted by the government on the basis of recommendations of Apex Committee," as quoted by PTI, Heavy Industries and Public Enterprises Minister Sontosh Mohan Dev told Lok Sabha in a written reply to a question.
He said, as many as 10 CPSEs had applied for Navratna status, of which only eight remained in the fray as Coal India did not fulfill the basic requirements.
The Shipping Corporation of India's case was withdrawn by the administrative ministry pending further review of its performance.
The companies, which would join the list of nine Navratna CPSEs are – Bharat Electronics, Hindustan Aeronautics, National Aluminium Company, National Mineral Development Corporation, Power Finance Corporation, Power Grid Corporation and Rural Electrification Corporation.
In reply to another question, he said Board for Reconstruction of Public Enterprises (BRPSE) 38 CPSEs for revival involving cash assistance of Rs 2888.14 crore and non-cash assistance of Rs 10947.5 crore.
Proposal for revival of 24 CPSEs have already been approved by Government with cash infusion of Rs 1993.3 crore and non-cash assistance of Rs 5253.2 crore, Dev said.
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