Friday, June 24, 2022

PSUs have crucial role to play in shaping New India: Dr Subramanian Swamy

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Bhubaneswar: Dr Subramanian Swamy, economist and Member of Parliament, has delivered the 18th edition of NALCO Lecture Series on ‘Relevance of PSUs in shaping New India,' in Bhubaneswar on Saturday. In his speech, Dr Swamy stressed that the public sector of India has a crucial role to play in shaping New India. He said: “The public sector is important for the development of India and it needs to be encouraged to prosper. PSUs should be given the freedom to make decisions and operate in sync with market dynamics.”

Swamy stressed that PSUs should move beyond profit-making and should focus on multi-dimensional objectives. There are certain sectors that can be explored and developed by the public sector only. PSUs also need to be ready to compete in terms of commercial principles, he added. “India should recognise the strength of PSUs," Dr Swamy said.

He also appreciated NALCO’s contribution, as an integrated business entity, towards the Indian aluminium sector in particular and the Indian Economy as a whole.

The public sectors is important for the development of India and it needs to be encouraged to prosper. PSUs should be given the freedom to make decisions and operate in sync with market dynamics: Dr Subramanian Swamy

While delivering the welcome address, National Aluminium Company (NALCO) Limited's CMD Sridhar Patra said that as a Central Public Sector Undertaking (CPSU), NALCO has always given priority to boost the country’s economy and serve the interest of the nation through continuous improvement in production, productivity and profitability and also work beyond profitability for promoting social and economic development through its CSR arm.

“The company is dedicated to working towards the sustainable development of the nation and the Indian industry in the years to come,” he added. Among others, the Directors of NALCO, senior officials, guests from industry and academia and former NALCO employees were present on the occasion.

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