Railways, Department of Posts, AAI not to be privatised under PSE policy

Railways and other government departments that undertake commercial operations with development mandate may not be privatised as these will not form part of the public enterprise policy, announced in the Budget for 2021-22.

and other major port trusts created under the Acts of Parliament will also not come under the policy, an official note said.

The policy divides public sector enterprises into strategic and non-strategic ones. The strategic sector includes — atomic energy, space and defence; transport and telecommunications; power, petroleum, coal and other minerals; banking, insurance and financial services.

In strategic sectors, bare minimum presence of existing public sector commercial enterprises at holding company level will be retained under government control. The remaining will be considered for privatisation, or merger or subsidiarisation with other public sector enterprises or closure.

Public sector enterprises in non-strategic sectors will be considered for wherever feasible or else they will be considered for closure.

Public sector enterprises in the nature of development and regulatory authorities, autonomous organisations, trusts, development financing institutions would also be out of the policy. Some of these institutions have been created through the Acts of Parliament.

Not for profit companies created for various promotional activities would also be an exception so far as the policy is considered.

Public sector enterprises assisting farmers in getting access to seeds and other such helps, those created for providing financial assistance to scheduled castes, scheduled tribes, minorities, other backward classes will also not be part of the policy.

The enterprises involved in printing of notes and minting of coins such as Security Printing and Minting Corporation of India will also not come under the policy.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Source link