The rationale of the review exercise is to get a fair picture of the 48 PSUs which include Bharat Heavy Electrical Ltd and Hindustan Machine Tools. It will give the ministry an idea which PSUs are performing well and which ones are hopeless cases, according to official sources.

Since disinvestment is on the top of the government agenda, the review will also delve into the restructuring process of the PSUs.

Some of the PSUs had hired consultancy firms to come out with plans for turnaround.

PSUs will submit their business restructuring plans to the ministry officials. Public sector companies are also expected to present their financial restructuring proposals.