To meet, the challenges of performance in an open market, initiatives have been taken by Govt. of W.B to restructure the PSUs by freeing the idle resources to the extreme possible for re-deployment in social and infrastructure development sectors to further the economic growth in the state.
It has been a continuous effort on the part of Govt. of WB to restructure existing Public Enterprises as well as utilising the resources to increase the industrial growth to the extent possible in current global economic scenario. The department has taken several measures to revive the industries, to assist them to run successfully. The Govt. from time to time has taken up various programmes for restructuring the loss making units in the state including private one in different phases by restructuring under Government ownership; by converting into JVs/PPP ; by inducting strategic partner(s) through a transparent process and in many cases, the unviable units were closed. Financial restructuring involved measures to restructure sponsorship by enabling units to raise necessary resources from banks. Manpower restructuring involved offering early retirement to workers to reduce the staff cost. The extent of both financial and manpower restructuring were based on expert recommendations.
We continue our endeavour to provide continuous support to ensure that the industrial reconstruction is done in a smooth way and we are committed to ensure that the industries in the state flourish in a favourable environment.