Privatisation not a solution for sick public units: PM

Prime Minister Manmohan Singh on Wednesday said that privatisation is not the prime solution to the efficiency problems of state-run units in the country. Singh said that dealing with the external environment, dubbed as “boundary management”, is the most important challenge facing public sector executives. The Congress-led central coalition government had listed sale of chronically loss-making companies as one of its agenda for national governance and vowed to induct private industry to turnaround companies that have potential for revival as it would increase competition.