PM Modi approves turning Rajasthan Electronics into independent CPSE
Government has given its nod to hive-off profit-making Rajasthan Electronics and Instruments Limited (REIL) from its parent company Instrumentation Ltd and turn it into an independent central public sector enterprise.
The decision was taken on Wednesday at a meeting of the Cabinet Committee of Economic Affairs (CCEA) chaired by Prime Minister Narendra Modi here.
REIL is a joint venture between Rajasthan State Industrial Development & Investment Corporation (RIICO) and Instrumentation Ltd, Kota, with 49% and 51% ownership, respectively. The Kota unit has been in the red for many years.
Last year, employees of the Palakkad unit of Instrumentation Ltd, which too has been making profits, had met the Prime Minister demanding the unit either be given an independent status or merged with a profit-making PSU.
Read full article: DNA
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