Industry & Economy
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Economic Survey
More transparency in PSUs sell-off
Our Bureau
New Delhi
,
July 7
THE Economic Survey says that privatisation of public sector undertakings will be considered on a transparent and consultative case-by-case basis.
Quoting the Common Minimum Programme (CMP) of the United Progressive Alliance (UPA), the Survey says that the Government will retain the existing "navaratna" companies in the public sector, while these companies raise resources from the capital market.
Besides, the Government is committed to a strong public sector whose social objectives are met by its commercial functioning. But, for this, there is need for selectivity and focus.
The UPA is committed to devolve full managerial and commercial autonomy to profit-making companies operating in a competitive environment.
Generally, profit-making companies will not be privatised.
Moreover, every effort will be made to modernise and restructure sick PSUs and revive sick industry, while the chronically loss-making companies will either be sold-off or closed after all the workers are given their legitimate dues and compensation.
The UPA will induct private industry to turn-around companies that have potential for revival, the Survey says.
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