Tuesday, July 5, 2022

PSUs are the pride of the nation: Prakash Javadekar

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  • Public Sector Undertakings are the pride of the nation said cabinet minister Prakash Javadekar

  • Javadekar also said that the government is putting emphasis on increasing efficiency, turnover and profitability of PSUs

New Delhi: Applauding the critical role played by Central Public Sector Enterprises (CPSEs) during the ongoing COVID-19 pandemic, the Union Minister for Heavy Industries & Public Enterprises (HI&PE) Prakash Javadekar said, “PSUs are the pride of nation and government is putting emphasis on increasing efficiency, turnover and profitability of these units.” The Minister along with the Minister of State (MoS) Arjun Ram Meghwal launched a compendium titled -Building Self-Reliance, Self-Resurgent and Resilient India on Wednesday. The compendium is about PSEs contribution during the pandemic.

Javadekar lauded the work done by PSE’s during COVID-19 pandemic. He said, “Electricity supply during COVID pandemic was 99 percent, nearly 24,000 LPG distributors, 71,000 retail outlets, 6,500 SKO dealers were open round the clock to serve people.” 

"Today there are total 249 operating CPSEs with a turnover of more than Rs 25 lakh crores with an annual net profit of approximately Rs 1.75 lakh crores; they pay around 3.62 lakh crore in the form of dividend, interest, taxes and GST and also the corporate social responsibility (CSR) expenditure by them is approximately Rs 3,500 crores annually"- Prakash Javadekar, Minister, DPE

It is important to note that at a time when wheels of the economy have slowed down due to pandemic, it is public sector undertakings that are successfully carrying out the responsibility to restart the economy.

Also read: Govt has approved revival of 8 PSUs: Prakash Javadekar

Praising the CPSE’s for maintaining nearly 100 percent goods movement and goods production the Minister said, “Around 71 crores LPG cylinders were supplied to the people, OMCs have given 21 crore free refills to consumers for a period of 3 months from April to June with the financial assistance of Rs 13,000 crore”. He further added that nearly 33 million MT was transported and the CPSE’s also gave medical assistance by providing nearly 11,000 beds in 201 hospitals spread across major cities and remote locations of the country.” He further said that as the country unlocks and marches towards “AatmaNirbhar Bharat” the role of PSE’s gains even more importance and expressed happiness that CPSE’s have got back to more than 90 percent production capacity.

“Today there are total 249 operating CPSEs with a turnover of more than Rs 25 lakh crores with an annual net profit of approximately Rs 1.75 lakh crores; they pay around 3.62 lakh crore in the form of dividend, interest, taxes and GST and also the corporate social responsibility (CSR) expenditure by them is approximately Rs 3,500 crores annually.”, informed the Minister.

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Telegram. Join PSU Watch Channel in your Telegram and stay updated)

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