Senior BJP leader and former finance minister Yashwant Sinha today made a case for setting up a separate Ministry for Public Sector Undertakings (PSUs), besides giving them more autonomy to deal with day-to-day business activities.
"Government should stop managing business of PSUs on day to day basis. Government should withdraw all government directors from the board of PSUs. Make PSUs complete independent. Let there be special ministry of PSUs" Sinha said at an event here.
He also underlined the need for reforming laws to give more autonomy to PSUs.
"Free PSUs from scrutiny of Central Vigilance Commission (CVC), Central Bureau of Investigation( CBI), instead regulators should be given more power to punish those PSUs officials who indulge in corruption," Sinha said.
The former finance minister also pitched for strategic sale of shares of PSUs.
"Whenever we made strategic sale of shares of PSUs, we ended up getting more money," Sinha said.
Recalling that he was the first finance minister who introduced the concept of disinvestment, Sinha said these days divestment of PSUs have become ugly fight between reformist and vested interest.
