The Board for Reconstruction of Public Sector Enterprises (BRPSE) will take up a revival plan for Hindustan Photo Films Manufacturing Company Limited (HPFML) and ITI Limited at its next meeting in July. But official sources reveal that the ambitious revival plan for ITI Limited may be further deferred for the board’s future meeting in August. The BRPSE Board meets once in a month to discuss the reconstruction plans of PSEs.According the information available, ITI’s ambitious revival plan envisages a turnover of Rs 4,850 crores for 2008-09 as against Rs 1,233 crore during last fiscal. The revival plan would be implemented spread across for five years. ITI has been keeping an eye on exports of equipments and software exports to generate its revenues. The company is expecting to generate around Rs 7000 crores from its public offers.Speaking to The Indian Express, secretary, BRPSE, Dr Jivtesh Singh Maini said, “We have been referred 62 cases. We have given recommendations for 53 cases which include 51 revival plans and two closures. The government has already approved 31 revival plans and the two PSE closures which requires a government assistance of around Rs 8,910 crores.”He further added, “During our last meeting we made recommendations for a revival plan of Hindustan Fluorocarbons Limited (HFL) which is a subsidiary of Hindustan Organic Chemicals Limited. We have recommended an investment of Rs 13 crore for revival of HFL. But the holding company would have to mobilise funds for this revival plan without any government assistance.”When asked as to why the board meets only once a month, Dr Maini said, “I do believe that the board should meet more frequently to give impetus to various revival plans of PSEs. However the competent authority has to take a call on every recommendation of the board .”
