Commerce and Industry Minister Nirmala Sitharaman has said that a study has been carried out by a consultancy firm for the revival plan of loss-making trading firm PEC. As per reports, PEC Ltd has made losses during the last two financial years. Commenting on the issue, Commerce and Industry Minister Nirmala Sitharaman told the media, “As per memorandum of understanding signed by PEC with the Department of Commerce for 2015-16.
PEC has got a study conducted by a professional consultancy firm for preparation of revival plan" as per the guidelines of the Department of Public Enterprises.” As per reports, out of six central public sector undertakings of the ministry, STC Ltd and PEC Ltd are making losses. STC, which was making losses since 2008-09, filed a winding petition in the High Court of Karnataka in 2013, which is pending for disposal.