PSUs eye EPFO funds
Under the government pressure to step up capital spending, PSUs are eyeing investments from EPFO, wh­ich is sitting on a huge ca­sh pile, to fund projects.
It being a pension fund, EPFO invests its corpus in long-term funds like state and central government bo­n­ds. PSUs too need such funding to implement their infrastructure projects, whi­ch have mostly longer pay back period.
At least seven PSUs, including Indian Oil, ONGC, Coal India and Power Finance Corporation, have approached the Employee Provident Fund Oragnisation (EPFO) for investment, labour minister Bandaru Dattatreya said on Tuesday.