PSU privatisation: Govt to take care of job loss, says Anurag Thakur

  • It will be decided in the sale-purchase agreement that there won't be job loss of people and all these facilities are provided, said Thakur

  • The policy clearly states that the divestment will bring investment, technology infusion, job opportunities, Thakur said in Rajya Sabha

New Delhi: What will happen to the PSU employees in case of privatisation or strategic disinvestment? This one question has repeatedly been asked to PSU Watch on various social media platforms. Minister of State for Finance & Corporate affairs Anurag Thakur has addressed the same in the parliament. "If central public sector enterprises are given for privatisation or for strategic sale, in the sale-purchase agreement to be entered, it will be decided that there won't be job loss of people and all these facilities are provided," Thakur said in the Rajya Sabha during Question Hour.

"The government has a 'clear and transparent' disinvestment policy. Four sectors of atomic energy, space and defence; transport and telecommunications; power, petroleum, coal and other minerals; and banking, insurance and financial services would be strategic sectors. The rest will be non-strategic sectors," Thakur said. The minister further said he personally believes and the policy also clearly states that the divestment will bring investment, technology infusion, job opportunities. "Overall, there will be more job opportunities and not a reduction in employment," he added.

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Anurag Thakur was responding to Samajwadi Party leader Vishambhar Prasad Nishad's query on the reservation and other facilities like provident fund in PSUs which would be privatised. Nishad also asked a supplementary question on the number of PSUs that the government has formed since 2014 and created job opportunities for people. The Union minister reiterated that the divestment policy is clear and transparent. "In strategic sectors, at least one company we keep to run in the interest of the country.

"If there are many companies in a particular sector, then there is no need for the government to be in that business. The government has no business to be in the business,"- Anurag Thakur, MoS Finance

If there are many companies in a particular sector, then there is no need for the government to be in that business. The government has no business to be in the business," he added. For FY 2021-22, the government has kept the disinvestment target at Rs 1.75 lakh crore. Out of which, Rs 1 lakh crore is to come from selling government stake in public sector banks and financial institutions and Rs 75,000 crore would come as CPSE disinvestment receipts.

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