Coal news and updates

BCCL, three other PSUs bag ‘Turnaround Award’

November 4: Bharat Coking Coal Ltd (BCCL) and three other central public sector enterprises (CPSEs) have been honoured by the Board for Reconstruction of Public Sector Enterprises (BRPSE) for their turnaround performance.

Dr Nitish Sengupta, Chairman, BRPSE, gave away the ‘Turnaround Award 2013’ to 4 CPSEs, namely BCCL, National Film Development Corporation Ltd, National Project Construction Corporation Ltd, and SAIL Refractory Unit (formerly Bharat Refractories Ltd).

These erstwhile sick/loss-making CPSEs have made profits consecutively for 3 financial years — 2010-11, 2011-12 and 2012-13; and their net worth has become positive after receiving financial assistance from the government on the recommendation of BRPSE, an official statement said.

To date, BRPSE has considered 68 cases and recommended revival of 58 CPSEs and closure of 6 CPSEs envisaging total assistance of Rs 39,200 crore. The Government of India has approved revival of 44 CPSEs and closure of 3 CPSEs envisaging total assistance of Rs 28,354 crore – benefitting 216,000 employees.