FM asks PSEs to improve professionalism

Gandhinagar: Union Finance Minister Nirmala Sitharaman on Thursday asked public sector enterprises to improve on professionalism, reduce expenditure and consider working with private sector entities.

She was addressing the heads of various central public sector enterprises (CPSEs) at Mahatma Mandir in Gandhinagar after inaugurating a mega exhibition on the contribution of these government-owned companies to nation-building as part of the Azadi Ka Amrit Mahotsav celebrations.

"It is now time for PSEs to show that you are very keen to improve on your professionalism as much as you have done between 1991 and now. And where possible, in order to bring down the overheads, it might be worth looking at private participation together with what you are doing, you can benefit from the efficiency of the private sector," 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.