Govt to shut down Air India, MTNL, HMT & few sick units

[magudi]

Five public sector undertakings (PSUs) will be closed down by the government, which has included some of the best known state-run enterprises like Air India, MTNL and Hindustan Shipyard, in the list of 65 sick PSUs, Lok Sabha was informed on Tuesday. The five state-run organisations to be closed down include three HMT units whose brand of watches and tractors once ruled the market, Heavy Industries Minister Anant Geete said during Question Hour, adding that their employees were being offered a "very good" VRS package. However, he did not name the other PSUs which are slated to be closed down. Air India and MTNL, once market leaders in aviation and mobile telephony sectors respectively, were declared sick as per the criteria for a PSU to be declared as such, after they incurred losses worth 50 percent or more of their average net worth during four preceding years. The Minister said there were 65 units in the list of sick PSUs as of March 31 last year. The reasons for their sickness vary from enterprise to enterprise and included obsolete plants and machinery, heavy interest burden, resource crunch, surplus manpower and shortage of working capital, he said. Air India accumulated losses of Rs 5388 crore, Rs 5490 crore and Rs 7559 crore in years 2013-14, 2012-13 and 2011-12 respectively, according to the figures tabled in the House. MTNL showed profit of Rs 7820 crore in 13-14 but had incurred losses of Rs 5321 cr and Rs 4109 cr in the previous years. Hindustan Shipyard Limited posted losses of Rs 859 crore, Rs 551 crore and Rs 462 crore in the three years. Geete said the concerned administrative ministries "prepare proposals for revival or otherwise of sick companies on case to case basis and obtain approval of the government."

Read more at: Govt to shut down Air India, MTNL, HMT & few sick units? - Moneycontrol.com

 

[magudi]

Sanghis selling country to corporates ,,,, helppppppppp

 

[Echo_419]

Five public sector undertakings (PSUs) will be closed down by the government, which has included some of the best known state-run enterprises like Air India, MTNL and Hindustan Shipyard, in the list of 65 sick PSUs, Lok Sabha was informed on Tuesday. The five state-run organisations to be closed down include three HMT units whose brand of watches and tractors once ruled the market, Heavy Industries Minister Anant Geete said during Question Hour, adding that their employees were being offered a "very good" VRS package. However, he did not name the other PSUs which are slated to be closed down. Air India and MTNL, once market leaders in aviation and mobile telephony sectors respectively, were declared sick as per the criteria for a PSU to be declared as such, after they incurred losses worth 50 percent or more of their average net worth during four preceding years. The Minister said there were 65 units in the list of sick PSUs as of March 31 last year. The reasons for their sickness vary from enterprise to enterprise and included obsolete plants and machinery, heavy interest burden, resource crunch, surplus manpower and shortage of working capital, he said. Air India accumulated losses of Rs 5388 crore, Rs 5490 crore and Rs 7559 crore in years 2013-14, 2012-13 and 2011-12 respectively, according to the figures tabled in the House. MTNL showed profit of Rs 7820 crore in 13-14 but had incurred losses of Rs 5321 cr and Rs 4109 cr in the previous years. Hindustan Shipyard Limited posted losses of Rs 859 crore, Rs 551 crore and Rs 462 crore in the three years. Geete said the concerned administrative ministries "prepare proposals for revival or otherwise of sick companies on case to case basis and obtain approval of the government."

Read more at: Govt to shut down Air India, MTNL, HMT & few sick units? - Moneycontrol.com

Great news these companies need to shut down immediately

 

[magudi]

Great news these companies need to shut down immediately

As expected bhakats will cheer for all fallacies

 

[kaku1]

Five public sector undertakings (PSUs) will be closed down by the government, which has included some of the best known state-run enterprises like Air India, MTNL and Hindustan Shipyard, in the list of 65 sick PSUs, Lok Sabha was informed on Tuesday. The five state-run organisations to be closed down include three HMT units whose brand of watches and tractors once ruled the market, Heavy Industries Minister Anant Geete said during Question Hour, adding that their employees were being offered a "very good" VRS package. However, he did not name the other PSUs which are slated to be closed down. Air India and MTNL, once market leaders in aviation and mobile telephony sectors respectively, were declared sick as per the criteria for a PSU to be declared as such, after they incurred losses worth 50 percent or more of their average net worth during four preceding years. The Minister said there were 65 units in the list of sick PSUs as of March 31 last year. The reasons for their sickness vary from enterprise to enterprise and included obsolete plants and machinery, heavy interest burden, resource crunch, surplus manpower and shortage of working capital, he said. Air India accumulated losses of Rs 5388 crore, Rs 5490 crore and Rs 7559 crore in years 2013-14, 2012-13 and 2011-12 respectively, according to the figures tabled in the House. MTNL showed profit of Rs 7820 crore in 13-14 but had incurred losses of Rs 5321 cr and Rs 4109 cr in the previous years. Hindustan Shipyard Limited posted losses of Rs 859 crore, Rs 551 crore and Rs 462 crore in the three years. Geete said the concerned administrative ministries "prepare proposals for revival or otherwise of sick companies on case to case basis and obtain approval of the government."

Read more at: Govt to shut down Air India, MTNL, HMT & few sick units? - Moneycontrol.com

I already leaved MTNL,,some 2 yrs ago.

 

[Echo_419]

As expected bhakats will cheer for all fallacies

 

[PlanetWarrior]

Good move. If it ain't profitable or capable of sustaining itself....shut its doors

 

[itachiii]

Five public sector undertakings (PSUs) will be closed down by the government, which has included some of the best known state-run enterprises like Air India, MTNL and Hindustan Shipyard, in the list of 65 sick PSUs, Lok Sabha was informed on Tuesday. The five state-run organisations to be closed down include three HMT units whose brand of watches and tractors once ruled the market, Heavy Industries Minister Anant Geete said during Question Hour, adding that their employees were being offered a "very good" VRS package. However, he did not name the other PSUs which are slated to be closed down. Air India and MTNL, once market leaders in aviation and mobile telephony sectors respectively, were declared sick as per the criteria for a PSU to be declared as such, after they incurred losses worth 50 percent or more of their average net worth during four preceding years. The Minister said there were 65 units in the list of sick PSUs as of March 31 last year. The reasons for their sickness vary from enterprise to enterprise and included obsolete plants and machinery, heavy interest burden, resource crunch, surplus manpower and shortage of working capital, he said. Air India accumulated losses of Rs 5388 crore, Rs 5490 crore and Rs 7559 crore in years 2013-14, 2012-13 and 2011-12 respectively, according to the figures tabled in the House. MTNL showed profit of Rs 7820 crore in 13-14 but had incurred losses of Rs 5321 cr and Rs 4109 cr in the previous years. Hindustan Shipyard Limited posted losses of Rs 859 crore, Rs 551 crore and Rs 462 crore in the three years. Geete said the concerned administrative ministries "prepare proposals for revival or otherwise of sick companies on case to case basis and obtain approval of the government."

Read more at: Govt to shut down Air India, MTNL, HMT & few sick units? - Moneycontrol.com

It would be stupid to shut down hindustan shipyard, govt has to either privatise it by diluting its share or sell the shipyard completely to a private company...

 

[magudi]

Good move. If it ain't profitable or capable of sustaining itself....shut its doors

It would be stupid to shut down hindustan shipyard, govt has to either privatise it by diluting its share or sell the shipyard completely to a private company...

Actually its stupid reporting The Govt just announced that it is shutting down a few sick PSUs

They are shutting down 5 units three of which are HMT and the other 2 are unnamed.

 

[itachiii]

Actually its stupid reporting The Govt just announced that it is shutting down a few sick PSUs

They are shutting down 5 units three of which are HMT and the other 2 are unnamed.

hindustan motors has to be privatised, last year bajaj and mahindra auto mobiles showed interest in buying the plant and use it for there companies expansion but chidambaram was against it for sme unknown reason..

 

[Archie]

If anyone reads the complete article.

It states that MTNL posted a profit of Rs 7820 crores or 1.3 Billion USD in FY 2013-14
Either its a mistake or I foresee a scam

 

[acetophenol]

What are gonna have in place of Air India? Will we be left without a national carrier?

 

[Abingdonboy]

What are gonna have in place of Air India? Will we be left without a national carrier?

No way they are going to just shut down Air India, it is far too big for that with far too many operations, employees and planes (some of which are still on order). And added to that having a national carrier is a strategic asset- Air India flies routes that are not profitable but that serve India's interests ie to third world nations transporting buissnesmen and ex-pats and when there is a crisis which airline is employed by the GoI to evacuate Indian (and regional) nationals?

 

[NKVD]

Five public sector undertakings (PSUs) will be closed down by the government, which has included some of the best known state-run enterprises like Air India, MTNL and Hindustan Shipyard, in the list of 65 sick PSUs, Lok Sabha was informed on Tuesday. The five state-run organisations to be closed down include three HMT units whose brand of watches and tractors once ruled the market, Heavy Industries Minister Anant Geete said during Question Hour, adding that their employees were being offered a "very good" VRS package. However, he did not name the other PSUs which are slated to be closed down. Air India and MTNL, once market leaders in aviation and mobile telephony sectors respectively, were declared sick as per the criteria for a PSU to be declared as such, after they incurred losses worth 50 percent or more of their average net worth during four preceding years. The Minister said there were 65 units in the list of sick PSUs as of March 31 last year. The reasons for their sickness vary from enterprise to enterprise and included obsolete plants and machinery, heavy interest burden, resource crunch, surplus manpower and shortage of working capital, he said. Air India accumulated losses of Rs 5388 crore, Rs 5490 crore and Rs 7559 crore in years 2013-14, 2012-13 and 2011-12 respectively, according to the figures tabled in the House. MTNL showed profit of Rs 7820 crore in 13-14 but had incurred losses of Rs 5321 cr and Rs 4109 cr in the previous years. Hindustan Shipyard Limited posted losses of Rs 859 crore, Rs 551 crore and Rs 462 crore in the three years. Geete said the concerned administrative ministries "prepare proposals for revival or otherwise of sick companies on case to case basis and obtain approval of the government."

Read more at: Govt to shut down Air India, MTNL, HMT & few sick units? - Moneycontrol.com

Immpossible nda is not take risk That too NDA govt bhartiya mazdoor sangh will rip them Apart. It seems to be Rumor

 

[GORKHALI]

Actually its stupid reporting The Govt just announced that it is shutting down a few sick PSUs

They are shutting down 5 units three of which are HMT and the other 2 are unnamed.

No offence but who gonna pay the debts and YOY loss which they incurred thanks to congressi rule. Why should tax payer bailout for their inefficiency? And one more thing you might have political differnce but we represent India here. Try to be civilized and mature Indian.

Immpossible nda is not take risk That too NDA govt bhartiya mazdoor sangh will rip them Apart. It seems to be Rumor

No most of the unions are either CPI or Kongressi.