UPA Govt committed to revival of PSUs: Prime Minister

Burnpur, West Bengal, Dec 24 (UNI) Prime Minister Manmohan Singh today asserted that the UPA Government at the Centre was committed to revival of the loss making Public Sector enterprises through modernization and expansion.

''The government is committed to modernization and expansion of our PSUs and their long term growth and viability... I am confident that many more PSUs will revive as a result of our efforts,'' he said while laying the foundation for the 2.5 million tonne expansion programme of the Indian Iron and Steel Company (IISCO) here.

Dr Singh said the expansion programme for IISCO, which had been merged with the Steel Authority of India Limited (SAIL) for revival after a prolonged period of sickness, was an example of the government's intention and efforts.

''We have an effective system for examining the viability of each and every loss making PSU with a view to identifying its long term prospect for rehabilitation and growth,'' Dr Singh said.

Describing the expansion of IISCO as a dream come true, he said, ''Let this be the dawn of a new era of industrialisation of Burnpur and West Bengal.'' West Bengal Chief Minister Buddhadeb Bhattacharjee, Steel Minister Ram Vilas Paswan and Parliamentary Affairs Minister Priyaranjan Dasmunshi were among others present at the function.

The expansion of IISCO steel plant at an investment of Rs 9,600 crore, was a part of SAIL's growth plan to produce 23 million tonnes of hot metal by 2010.

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