Govt not to privatise profitable PSUs: DPE Secretary | business | Hindustan Times
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Govt not to privatise profitable PSUs: DPE Secretary

The government would not go for privatisation of profit-making PSUs, Secretary with the Department of Public Enterprises, R Banerjee, has said.

business Updated: Jul 19, 2009 15:17 IST

The government would not go for privatisation of profit-making PSUs, Secretary with the Department of Public Enterprises, R Banerjee, has said.

Speaking at an interactive session organised here by the Indian Chamber of Commerce last night, he said, “Profit-making PSUs will not be privatised,” and clarified that privatisation means bringing down the government holding to below 51 per cent.

Banerjee said that the PSUs which will be categorised under the ‘Maharatna´ status, will be given full commercial and managerial autonomy.

“The department has recently floated a note and circulated to different ministries for their comment” on it, he said, adding that it was a part of the government’s 100-day programme.

Out of the 242 central Public Sector Units, 18 were Navratnas and 54 are Miniratnas, he said. He further said that the CPSUs were contributing to nearly eight per cent of the GDP.

“Three more PSUs are in the pipeline to get the Navratna status,” he added.