FM asserts that PSEs should improve professionalism efficiency

By Our Special Correspondent

Nirmala Sitharaman Union Finance Minister asked public sector enterprises to improve on professionalism, reduce expenditure and consider working with private sector entities on Thursday. Inaugurating an exhibition by 75 Central Public Sector Enterprises (CPSEs) at the Mahatma Mandir, Gandhinagar, in Gujarat, the finance minister said.

"The time has come for PSEs to show that you are as keen to improve your professionalism as you have been since 1991. And where possible, it may be worthwhile to look at private partnerships to reduce overheads. In addition to the work you do, you can benefit from the potential of the private sector." Sitharaman said.

There are many things you can do to benefit from private sector capability,”Sitharaman said. The world. “She said PSUs should take full advantage of the new technology to go global and expand their capabilities over the next 25 years to set a new benchmark for public sector companies anywhere in the world.

"The identified key sectors that remain in the public sector are now opportunities, new areas of development, opportunities to increase and you need to look at ways in which you can benefit from diving deeper into the web 3.0, Industrial Revolution 4.0, deep data," Sitharaman said.

Referring to the new PSE policy announced in 2021, the Finance Minister said PSEs need to be aware of the competition they will face from the private sector.