Public sector needs to pool resources to face competition: President

In a globally integrated economy, it was essential for central public sector enterprises (CPSEs) to collaborate and pool their resources to face and overcome competition, President Pranab Mukherjee said on Monday.

Mukherjee on Monday presented the Standing Conference of Public Enterprises (SCOPE) Excellence Awards in New Delhi on the occasion of the 7th Public Sector Day.

"The financial, technical and manpower resources of our CPSEs need to be shared to enable better and more optimal solutions in increasingly customer driven markets.

"The exceptional human capital available with CPSEs should be harnessed to develop suitable strategies and interventions which lead to improvement in performance and expansion of operations both in domestic and global markets," he said.

The president said CPSEs need to take immediate steps to identify and unlock the surplus land available with them as the same can be used in generating much needed public investments to boost the economy and increase employment opportunities.

"There is a similar need for identifying and unlocking the free surplus reserves which are available with our CPSEs so that the same may be utilized for undertaking enhanced capital expenditure," he added.

Mukherjee felicitated SJVN Limited with a gold trophy and citation under the institutional category (mini ratna).