Union Minister Nitin Gadkari Wednesday said public sector undertakings should remove the deadwood and give an extension to achievers, and that the government's approach has been to shut down ailing state-run firms.
Speaking at the 62nd Foundation Day of the National Projects Construction Corporation (NPCC), once a loss-making company under the Ministry of Water Resources, Gadkari said he "saved" the PSU with a lot of efforts and the company should not get carried away by the "meagre" profit it has registered.
To be in the race, the company needs to execute projects faster and take decisions in a time-bound manner.
"This Rs 1000 crore turnover and Rs 30 crore is like primary education. The stakeholders have to think about this, he said.
The minister said he saved the PSU from closing down as the government's policy has been to shut the ailing state-run companies.
I should not tell you this, but the government's policy about loss making (PSUs).the prime minister keeps asking me and (Finance Minister Arun) Jaitley ji how many companies have been shut down. He does not want the loss-making and under-performingthey should be shut down. I have saved (the PSU) with a lot of efforts.
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