Faltering PSUs may lose their Mini Ratna tag

Several PSUs like BSNL, HMT, Hindustan Paper and Hindustan Newsprint may lose Mini Ratna status, as they have slipped on performance parameters set to retain the coveted position linked with their autonomy.

Taking a stringent view, the Department of Public Enterprises (DPE) has directed all the administrative ministries to “re-examine status of existing miniratna public sector units (PSUs) under their control with respect to the laid-down criteria”.

A Mini Ratna PSU should have made profit for three successive years and a positive net worth, as per the DPE norms.

A comprehensive report has been sought before Monday, from the ministries and departments which have administrative control over the PSUs.

While there are 67 miniratnas, several of them including BSNL, Hindustan Paper Corporation and Hindustan Newsprint have run into financial difficulties and are incurring losses. They may lose the status which gives them autonomy to invest up to Rs 500 crore without seeking government approval.