43 CPSEs in the red since last 3 years, informs MoS

Air India and BSNL are among the 43 CPSEs that are incurring losses since last three years.

Babul Surpiyo, Minister of State for Heavy Industries and Public Entreprises, informed the parliament today that there are as many as 43 central public sector enterprises (CPSEs) which includes Air India and BSNL that are making losses over the last three consecutive years.

The minister cited reasons for losses and claimed that resource crunch, low capacity utilisation, old plant and machinery, stiff competition, weak marketing and mismanagement were the reasons behind the losses.

British Indian Corporation, Hindustan Antibiotics, Indian Drugs and Pharmaceuticals and HMT Watches are some of the CPSEs that are making losses continuously.

The minister further informed that the modernisation and capacity expansion of units of Hindustan Paper Corporation, Cachar Paper Mill and Nagaon Paper Mill in Assam is pending.