Home ECONOMY PSUs should be competitive, says Jaitley

PSUs should be competitive, says Jaitley


New Delhi, July 22:

The Union Minister for Finance, Corporate Affairs and Defence, Shri Arun Jaitley addressing the State Food Ministers Conference, in New Delhi on July 04, 2014.Finance Minister Arun Jaitley Tuesday said public sector undertakings should learn to function like private business houses in a competitive environment.

“The Public Sector Undertakings (PSUs) must learn how to function like any other business organisation in a competitive environment and should not be run like a government department,” he said, replying to supplementaries in the Rajya Sabha.

The minister informed the elders that 79 central public sector enterprises have incurred losses, of which 49 are sick.

“A total investment of Rs.157,211 crore has been made in these enterprises,” he said.