Letters: PSUs and privatisation | Business Standard Letters

Letters: PSUs and privatisation | Business Standard Letters

Submitted version of the letter:

November 7, 2014
of PSUs
This refers to the report “79 sick PSUs await FM’s privatisation move” (November 7). 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.
One is not aware whether a parallel survey to assess the health and mortality rates of private sector organisations with focus on their consumption(yes, consumption) of public funds and resources has been conducted when a study was carried out to identify saleable sick central public-sector enterprises. Time is opportune for central
government to set up umbrella organisations in sectors where government would
like to retain majority stakes to oversee their functioning and give necessary
and timely support to ensure their healthy existence.
M G Warrier, Mumbai




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