Thursday, July 19, 2007

Indian Prime Minister in support of giving more autonomy to PSUs

by Vipin Agnihotri

Worried over time spent by heads of public sector companies in ‘boundary management’, Indian Prime Minister Manmohan Singh has asked the government to become more transparent in terms of regulation. According to Manmohan Singh, privatisation need not be the only alternative to improve the efficiency of public sector enterprises.

I completely agree with Mr Manmohan Singh sentiments, because in last two or three years far greater attention was paid to the question of privatisation of public enterprises rather than to the reform of such undertakings. It is worthwhile pointing that while privatisation is more often driven by fiscal compulsions, it is also seen as a method to relieve public sector units of the burden of boundary management.

Most of the experts believe that Indian public enterprises are subject to far greater political and bureaucratic interference as compared to their counterparts. Taking this into account, Prime Minister said that it would be the endeavour of his government to alter this situation by easing the bureaucratic and political hold of government over them. In my opinion, time has come when various Indian ministries should grant full operational autonomy to public sector enterprises. This can help them immensely in competing in global market.

 

 

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