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Government to use sick PSUs land parcels for affordable housing

The government approved revised guidelines for time-bound closure of sick and loss making central public sector enterprises and the disposal of their movable and immovable assets. The decision was taken at a meeting of the Union Cabinet chaired by Prime Minister Narendra Modi here. The guidelines accord first priority to utilisation of land of central public sector enterprises (CPSEs) under closure for affordable housing as per the relevant guidelines of the Ministry of Housing and Urban Affairs. “The revised guidelines would reduce delays in implementation of closure plans of sick/loss making CPSEs. These guidelines will replace the guidelines issued by the Department of Public Enterprises in September 2016.

Source : ET Realty