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New PSEs policy envisages at most 4 PSUs in strategic sectors: DPE Secy

The new public sector enterprises policy envisages that the strategic sectors have limited number of players restricting it to maximum four public sector enterprises of the holding nature

Topics
PSUs | PSUs performance | PSU sales

Press Trust of India  |  New Delhi 

psu, disinvestment, stake sale
Illustration: Ajay Mohanty

The new public sector enterprises policy envisages that the strategic sectors have limited number of players restricting it to maximum four public sector enterprises of the holding nature, a top official said on Friday.

Department of Public Enterprises (DPE) Secretary Sailesh said the remaining enterprises will be rationalised in terms of mergers, amalgamations and privatisation if feasible.

As part of the 'Aatmanirbhar Bharat Abhiyan' package, Finance Minister Nirmala Sitharaman had in May announced that there will be a maximum of four public sector companies in strategic sectors, and state-owned firms in other segments will eventually be privatised.

The DPE secretary was addressing a webinar organised by PHDCCI.

Sailesh said, "We need to build our capabilities and emphasise our domestic production for global and domestic outreach at a globally competitive cost."

The new paradigm framework in which the government is working on will make PSU a pivotal part and there is a strength towards asset monetisation in the brownfield project, he added. "We need to ensure that the desired results are achieved in the collaborative effect of the private sector to enhance wealth, improve R&D, and growth of the economy."


The secretary also said that with the announcements of the new PSU policy, the govt wishes to have a strong and impactful public sector in a strategic sector. "MSMEs (micro, small and medium enterprises) have the potential in the sectors such as defence, infrastructure, manufacturing, power, petroleum, coal, mining, ports, airports, and many more, which will help to create better running of government assets," he said.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Fri, February 19 2021. 19:29 IST
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