Saturday, May 14, 2022

Govt aimed to shutting down non-viable PSUs: S Bahuguna

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New Delhi: After shutting down 19 public sector undertakings (PSUs) under strategic disinvestment, the government is now focussed on trimming the fat in the public sector by reducing non-viable companies, said Seema Bahuguna, Secretary at the Department of Public Enterprises (DPE). “We focus on strategic disinvestments, as part of which, 19 CPSEs have been brought to closure by now. We are focused on reducing non-viable companies (PSUs) now,” she said.

‘Imperative for CPSEs to reinvent themselves’

She also said that the government has reworked the dispute resolution mechanism for central public sector enterprises (CPSEs) to reduce litigation and unblock public money.

While addressing the Confederation of Indian Industry (CII) annual session, she said that it is imperative for PSUs to reinvent themselves and be competitive with fast decision-making.

We focus on strategic disinvestments, as part of which, 19 CPSEs have been brought to closure by now. We are focused on reducing non-viable companies (PSUs) now

‘Adopt technology’

Bahuguna also pointed out that as India aspires to become a $5-trillion economy, CPSEs must adopt technology, expand global outreach, have greater R&D focus and benchmarking.

“Going forward, the government, in next few years will focus on supporting startups, enhancing CSR activities and developing CPSE to CPSE collaboration in order to identify new work areas,” the secretary said.

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