Calcutta, May 12: The second phase of restructuring of Bengal’s public sector enterprises kicked off today with the government deciding to issue an ad tomorrow, seeking expressions of interest for two of its proposed joint ventures.

“We will seek expressions of interest for the West Bengal Film Development Corporation and Manjusha (the retail chain of the state handicrafts development corporation),” industrial reconstruction and public enterprises secretary Sumanta Chaudhuri said.

The revamp of 28 loss-making enterprises in phase II may help the government save several hundred crores.

The first phase — involving 16 companies — resulted in savings of Rs 40 crore a year for the government. The British department for international development (DFID) had put in Rs 200 crore of the Rs 225 crore spent in the first phase to clear workers’ dues and pay retirement benefits.

The DFID has approved a grant of Rs 184 crore for the second phase.

This time, Chaudhuri said, nine units will be made joint ventures and 14 restructured under government ownership. Construction firm West Bengal Projects Ltd and the publication Basumati will be shut. A final decision is yet to be taken on the remaining three.

The government shall retain a 26 per cent stake in the joint ventures.

Chaudhuri said the workforce in all the units will be downsized.

Those opting for early retirement schemes shall receive monetary compensation and retirement benefits like notice pay, leave encashment, gratuity and provident fund.

Displaced employees will be re-skilled under the social safety net. “It will facilitate their self-employment or alternative employment. Those incapable of undergoing fresh training can nominate a dependent son or daughter,” Chaudhuri said.