Govt can look at corporatising state-run firms: PM

Prime Minister Narendra Modi says changing work culture is an alternative to disinvestment

Prime Minister Narendra Modi today said his government can look at corporatising state-run firms as an alternative to improve their viability since divesting them or closure were not the only available options.

"In our country reformists would say that you do disinvestment. If we do, then they would say this government has done 'very good'. If strike happens then there will be a photo on front page saying 'Modi murdabad, Modi murdabad'. We have made shipping companies, which were running in losses, profitable.

"Do we have only two ways to improve things one either disinvest them or shut them down. But there is a third way which is to corporatise it and change its work culture. Bring efficiency and make it apolitical and we can change things," he said while speaking at the Hindustan Times Leadership Summit here.

Talking about stalled projects, Modi said there were about 85 major projects which were not working. "Even their foundation stones could not be traced."

"I reviewed them and I can tell you this that about 60-65 projects have started working satisfactorily. Dabhol power plant in Maharashtra, which was also not working for past two years, has also started working and power generation has begun from there," the Prime Minister said.