Letters: PSUs' health | Business Standard

Letters: PSUs' health | Business Standard



Letters: PSUs' health
Business Standard  |  New Delhi 
February 11, 2014 Last Updated at 21:02 IST



This refers to the report "Finance Minister asks banks to go after willful defaulters" (February 11). It is common knowledge that the government has been milking profit-making public sector undertakings (PSUs), including public sector banks and statutory bodies, by making unreasonable demands for cash transfers and diversion of resources to less-profitable avenues. If Finance Minister P Chidambaram's expectation that "humongous" capital is required in the future comes from genuine concern for the health of PSUs, then this should be demonstrated by curbing "informal" directions to transfer surplus income and profit to the government and the declaration of dividends to meet a budgeted "quota" of receipts from government-owned organisations.
M G Warrier Thiruvananthapuram
 




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