Karnataka For Privatisation Of Sick Psus

Briefing the press after the first meeting of the reconstituted board, Patel said there was no point in pumping government money in perennially-loss-making units.

He said no timeframe had been set for divestment of government stock in state PSUs, but said the measure had become inevitable to raise funds for development programmes. The issue will soon be brought before the state cabinet for approval, Patel said.

The problem of labour was the major hurdle in privatisation of PSUs, the Chief Minister said, and added that attention will be given to those units which could be revived. Patel said high priority has been accorded to primary education, primary health care and housing programmes.

The meeting felt that instead of enlarging the plan size, efforts should be made to implement plan programmes.

The next meeting of the board has been scheduled for October 23.

Board