New Delhi: FM Nirmala Sitharaman The principle of the government’s disinvestment program is not to shut down any entity or company, but to operate them more efficiently and professionally, it said on Friday. Highlighting that the public sector enterprises, which were privatized between 1994 and 2004, are being run by professionally run boards, the minister said these companies have only improved.
Addressing the Department of Investment and Public Asset Management (DIPAM) as part of ‘Azadi Ka’ Amrit MahotsavHere, Sitharaman said that the objective of privatization of CPSEs is to ensure that these companies are running efficiently and cost-effectively.
“The economy needs many such companies and many, many more. So, if we want to do that activity professionally and open up space for people to come and do it, our interest is not closed, We want to make it major, we want them to run more efficiently so as to contribute to the economy,” Sitharaman said.
He said the principle of disinvestment is to ensure that the companies that are being privatized are in the hands of those who can run it, bring in more capital and give equal output.
Addressing the Department of Investment and Public Asset Management (DIPAM) as part of ‘Azadi Ka’ Amrit MahotsavHere, Sitharaman said that the objective of privatization of CPSEs is to ensure that these companies are running efficiently and cost-effectively.
“The economy needs many such companies and many, many more. So, if we want to do that activity professionally and open up space for people to come and do it, our interest is not closed, We want to make it major, we want them to run more efficiently so as to contribute to the economy,” Sitharaman said.
He said the principle of disinvestment is to ensure that the companies that are being privatized are in the hands of those who can run it, bring in more capital and give equal output.