New Delhi: Prime Minister Narendra Modi today slammed the privatization of state-owned enterprises. “All the other PS4s will be privatized, except for a handful of organizations, and we are committed to that,” he said. So there is no reason to be surprised by the privatization of many state-owned enterprises in the coming days. “It’s exactly what the government wants,” he said. Participating in a webinar, Prime Minister Modi said that all non-essential state-owned enterprises would be privatized. In some important cases, there will be only one or two PS4s. There is no point in pouring in the money of the taxpayers like water to keep the PS8Us running at a loss. The poor and the young have the right to that money. The money is being spent to save the loss-making organization, putting undue pressure on the economy. “The money can be spent on the welfare of the people,” he said. At that time, the needs of the economy and national priorities were different. “It simply came to our notice then that we had to change the policy 50-40 years ago.” He said it was the government’s responsibility to provide assistance to businesses and businesses. But owning one is still beyond the reach of the average person. The PSU should not be governed by its own traditions or by anyone’s mentality. There is no problem if any PS4U meets certain and important requirements. The government should focus on the welfare of the people. If the government does business, it will have to bear the brunt of the crisis. Running a company is not only a waste of money, but also a human resource. The Prime Minister said that the human resources could be used for the country’s administrative system. The funds raised from the sale of the PS4U shares can be used in welfare schemes in the areas of drinking water, sanitation, education and health care, he said. PS4Us have about 100 unused or misused assets. “Efforts to acquire these assets in the oil and gas and energy sectors will create an investment opportunity of Rs 2.5 crore,” he said. According to the plan, the central government will have only one or two government agencies in the fields of nuclear energy, space and defense, transport and telecommunications, energy, petroleum, coal and other minerals, and banking, insurance and financial services. “We will pursue the goal of modernization and earning,” he said. He said a powerful committee has been set up with secretaries to expedite the privatization process to expedite the privatization process. The budget targets to do so. In addition, two government banks and one insurance company will be privatized. The Modi government aims to list the Life Insurance Corporation of India (LIC) in the stock market.
