Govt writes off more than Rs 2000 cr PSE debt

JAMMU: Finance Minister Abdul Rahim Rather Thursday announced that government will write off all the debt of the state owned public sector enterprises to provide them chance for revival.
“To bring in improvements in the performance of our debt ridden PSEs who survive on budgetary support from government having no capacity to re-pay such liabilities that currently exceed Rs 2000 crore, the government propose to make them debt free by writing off these accumulated liabilities,” Rather said during budget speech.
He said, it is proposed to convert the pending plan loans into equity capital after proper examination in each case. After the PSEs will be expected to focus on other areas of improvement.

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