Revival packages for 23, with financial assistance of Rs 7,660 crore.

KOLKATA: Hindustan Aeronautics Ltd, National Aluminium Co and Power Finance Corp are among the seven public sector firms that would be given the navratna status soon, Minister for Heavy Industries Santosh Mohan Dev said on Friday.

An apex committee had recommended granting of navratna status to HAL, NALCO, PFC, Bharat Electronics Ltd, National Mineral Development Corporation, Power Grid Corporation of India and Rural Electrification Corporation Ltd, he said.

He said these would be granted the status as soon as they induct independent directors on their board.

With these, the number of navratna CPSUs under the Heavy Industry ministry would increase from nine to 16. Oil and Natural Gas Corp, NTPC Ltd, BHEL and Indian Oil are among the nine existing navratna companies.

The minister, addressing a meeting at the Bengal National Chamber of Commerce & Industry here, said the government would not sell any profit-making enterprises to private parties.

"We are interested in selling only sick companies," Dev said in reply to a question.

Dev said the Board for Reconstruction of Public Sector Enterprises (BRPSE) had identified 75 sick CPSUs, out of which 43 units had been earmarked for revival.

He said the government had already approved revival packages for 23, with financial assistance of Rs 7,660 crore.

Referring to West Bengal, Dev said the ministry had approved revival and restructuring of four PSUs -- Andrew Yule & Company, Bridge & Roof, BBJ Construction Company Ltd and Braithwaite & Company Ltd.

On the issue of revival of Burn Standard, Dev said the matter would be sent to the cabinet for approval.

He said three companies - Braithwaite, Tyre Corporation of India and Burn Standard - had already started paying wages and salaries from their own resources.

The government was considering payment of salaries of Bharat Opthalmic Glass Ltd in Durgapur, he added.

Dev said the government would shortly hand over National Instruments Ltd to Jadavpur University. He, however, said there would be a rider attached to it that the university would not be allowed to sell the land occupied by the company.

Referring to closed MAMC in Durgapur, he said a number of private suitors had expressed their interest in acquiring the assets of the company.

To another query, he said the government was keen to sell its residual stake in Jessop & Company