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DISINVESTMENT of profit-making public sector enterprises (PSE) is very much on the agenda of the Congress-led UPA government, the newly-appointed Union minister for heavy industries and public sector enterprises Vilasrao Deshmukh said on Monday. Mr Deshmukh, however, said the issue needed "more examination and a detailed discussion" before the Union Cabinet takes a final call.
"The issue of disinvestment of profit-making PSEs was on the backburner for different reasons during the previous government's tenure. But it is very much on cards now," Mr Deshmukh said addressing a press conference at the Congress office here on his arrival to the city after being sworn in as the Union minister for the first time in his career.
The former Maharashtra chief minister also admitted that the newly-inducted UPA government under Prime Minister Manmohan Singh was more free to carry out long-pending economic reforms since it did not have to depend on support from the Left parties. "Certainly, all those pending reforms and proposals will be revived now by the PM in this tenure," he said. Mr Deshmukh, who sought time to study his ministry, placed PSEs falling under his ministry's control in three different categories. Of the 32 PSEs that the ministry controlled, 17 are making profits.
"For the remaining 15 PSEs, the ministry broadly has three options. Those making marginal losses can be rehabilitated and restructured by putting in some government equity. Some could be revived by forming joint ventures with strategic partners. But those making heavy losses will have to be shut down," Mr Deshmukh said. He, however, refused to specify the PSEs which needed to be closed down.
The government was also open to the expansion plans of a profit-making PSE like Bharat Heavy Electricals (Bhel), Mr Deshmukh said answering a question and added that he would call a meeting of the Bhel board of directors to take up the issue.
On the contentious issue of land acquisition for industrial projects, Mr Deshmukh exuded confidence that a proposed legislation pending before the Parliament would amicably settle the issue. "The legislation promises to ensure that farmers whose land is being acquired get price at the prevailing market rates and they are rehabilitated before the project takes off. The legislation will make it difficult for industrial projects which require land from farmers to go ahead without farmers' consent," Mr Deshmukh said.
"The issue of disinvestment of profit-making PSEs was on the backburner for different reasons during the previous government's tenure. But it is very much on cards now," Mr Deshmukh said addressing a press conference at the Congress office here on his arrival to the city after being sworn in as the Union minister for the first time in his career.
The former Maharashtra chief minister also admitted that the newly-inducted UPA government under Prime Minister Manmohan Singh was more free to carry out long-pending economic reforms since it did not have to depend on support from the Left parties. "Certainly, all those pending reforms and proposals will be revived now by the PM in this tenure," he said. Mr Deshmukh, who sought time to study his ministry, placed PSEs falling under his ministry's control in three different categories. Of the 32 PSEs that the ministry controlled, 17 are making profits.
"For the remaining 15 PSEs, the ministry broadly has three options. Those making marginal losses can be rehabilitated and restructured by putting in some government equity. Some could be revived by forming joint ventures with strategic partners. But those making heavy losses will have to be shut down," Mr Deshmukh said. He, however, refused to specify the PSEs which needed to be closed down.
The government was also open to the expansion plans of a profit-making PSE like Bharat Heavy Electricals (Bhel), Mr Deshmukh said answering a question and added that he would call a meeting of the Bhel board of directors to take up the issue.
On the contentious issue of land acquisition for industrial projects, Mr Deshmukh exuded confidence that a proposed legislation pending before the Parliament would amicably settle the issue. "The legislation promises to ensure that farmers whose land is being acquired get price at the prevailing market rates and they are rehabilitated before the project takes off. The legislation will make it difficult for industrial projects which require land from farmers to go ahead without farmers' consent," Mr Deshmukh said.
NEW BEGINNING: Vilasrao Deshmukh
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