PSEs should improve professionalism, efficiency: Nirmala Sitharaman

And where possible, in order to bring down the overheads, it might be worth looking at private participation together with what you are doing.

Published: 10th June 2022 08:41 AM  |   Last Updated: 10th June 2022 08:41 AM   |  A+A-

Finance Minister Nirmala Sitharaman (Photo | EPS)

Finance Minister Nirmala Sitharaman (Photo | EPS)

Express News Service

AHMEDABAD: Finance Minister Nirmala Sitharaman has called on public sector enterprises (PSEs) to improve their professionalism and efficiencies, as the government opens up nearly every area to the private sector. Inaugurating an exhibition by 75 Central Public Sector Enterprises (CPSEs) at the Mahatma Mandir, Gandhinagar, in Gujarat on Thursday, the finance minister said.

“It is now time for PSEs to show that you are very keen to improve on your professionalism as much as you have done between 1991 and now. And where possible, in order to bring down the overheads, it might be worth looking at private participation together with what you are doing.

There are several aspects where you can benefit from the efficiency of the private sector,” Sitharaman Said, “The public sector undertakings (PSUs) in strategic sectors should look at scaling up possibilities, use of technology, and set fresh benchmarks for PSUs around the world.” She said that PSUs must derive maximum benefit from newer tech to scale up their efficiencies in the next 25 years to go global and set a fresh benchmark for public sector enterprises anywhere in the world.

“The identified core sectors in which public sector would remain will have to now look at opportunities, newer areas of development, scaling up possibilities and looking at ways in which you can benefit from web 3.0, industrial revolution 4.0, deep-diving into deep data,” Sitharaman said. As per the Public Sector Enterprises policy, 2021, strategic sectors where the government intends to keep a bare minimum presence include energy, telecom, power, banks, and minerals. She asked the Department of Public Enterprises (DPE) to engage with PSEs in strategic sectors.



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