Privatisation Of Public Sector Enterprises

The accumulated losses of state public sector enterprises (PSEs) rose from Rs 3,953.70 crore in 2020-21 to Rs 4,778.70 crore in 2022-23, while the profit earned by 13 SPSEs stood at Rs 20.21 crore as on September 30, 2023, according to a report by the Comptroller and Auditor General (CAG) on finances tabled in the Assembly on Saturday. The net worth of nine out of these 14 PSEs has been completely eroded by losses and their worth was (-) Rs 1,932 crore against an equity investment of Rs 2,085.59 crore, while three PSEs have outstanding government loans amounting Rs 3,132 crore, the report said. Himachal Pradesh State Electricity Board topped the list of loss making enterprises with accumulated losses of Rs 1,809.61 crore, followed by Himachal Pradesh Road Corporation at Rs 1707.12 crore, HP Power Corporation at Rs 552 crore, Himachal Pradesh Power Transmission Corporation at Rs 395.91 crore, HP Financial Corporation at Rs 180.97 crore, State Forest Corporation at Rs 113.04 crore, HPM

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SCOPE is an apex professional organization representing the Central Public Sector Enterprises (CPSEs)

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Currently, 95 per cent of retail petrol and diesel sales and near 100 per cent of cooking gas (LPG) and kerosene sales are controlled by the public sector units.

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Employee resistance is just the tip of the iceberg. Slow pace of privatisation and lopsided approach in dealing with state-run enterprises are larger issues

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While privatising markets serves a purpose, PSUs competing in those markets should either perform, or be allowed to die or be sold