Arun Jaitley wants to sell PSUs that can’t be revived. Why will anyone buy them? - Moneylife

Arun Jaitley wants to sell PSUs that can’t be revived. Why will anyone buy them? - Moneylife

Online comments:

The brief information
provided in the last paragraph gives some insight about the size of the CPSEs
put together and their contribution to the country. We expect government to
safeguard the interests of stakeholders, especially the individual citizens who
have stakes in their capacity as investors, customers, clients, users of
services and above all, as tax-payers, in public and private organisations
including public sector undertakings.
In the case of public
sector undertakings including public sector banks government should own up
responsibility for their inefficient functioning and incurring losses. Making
organisations sick by following bad policy and throwing them to the laps of
greedy private sector will have long term impact on the credibility of
government as an institution.
Post-independence India
has a history of building and nurturing several public sector organisations
including Railways, State Bank of India, Ordnance Factories and Research
Organisations including ISRO. Mentioned this to emphasise that despite constraints,
PSUs have survived and to tell the obvious that certain manufacturing and
social sectors which will be avoided by private sector, have to be supported by
government irrespective of their ‘commercial profitability’.
Government should cause a
survey to assess the health and mortality rates of private sector organisations
with focus on their consumption (yes, consumption) of public funds and nation’s
resources. Time is opportune for central government to consider setting up
umbrella organisations in sectors where government would like to retain
majority stakes to oversee their functioning and give necessary and timely policy
guidance and support to ensure their healthy existence.
M G Warrier, Mumbai


 

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