Govt to unlock investment potential in PSUs: PM
Hyderabad, Dec 5: Prime Minister Manmohan Singh today asserted that his government was fully committed to unlocking the investment potential in the public sector.
''We want to create a culture that rewards risk taking, innovation and product development in the public sector to compete effectively at the global level,'' Dr Singh said while delivering his address at the golden jubilee celebrations of Administrative Staff College of India (ASCI) here.
Stating that it was high time to enter into public-private partnership and enable the public sector to build on core competencies, he said ''We must review the governance structures of the PSUs, while maintaining accountability by putting them on a sound financial footing and giving them opportunities to restructure and rationalise.'' Pointing out that there was a postitive turn around in the performance of Indian Railways after inviting private investments, Dr Singh said ''we have to also tone up the management of other large PSUs, including Food Corporation of India and oil PSUs' to strengthen them in future.''