labels: industry - general
Give PSUs chance to restructure, says Manmohannews
05 December 2006

Mumbai: Large PSUs, including oil firms and the Food Corporation of India, should be given a chance to restructure and rationalise for better financial health, prime minister Manmohan Singh said.

"We have invested a significant amount of our national resources in building up a sizeable public sector. But the productivity of the investment locked up in our public sector is very low. We need to unlock this investment potential if the country has to benefit from the past investments," he said.

The prime minister was delivering the golden jubilee address at the Administrative Staff College of India (ASCI) in Hyderabad.

"We must work to put them on a sound financial footing by giving them the opportunities to restructure and rationalise, enter into public-private partnerships and enable them to build on core competencies," he said.

He also favoured a review of the governance structure of PSUs even while maintaining accountability to the Parliament.

 search domain-b
Give PSUs chance to restructure, says Manmohan