Maran Rules Out Loss-Making Psus Closure Of

Industry minister Murasoli Maran yesterday ruled out the possibility of closing down any public sector enterprise on the point of making losses.

However, they have to improve their performance, the minister said while inaugurating a workshop on restructuring and performance improvement of central public sector units. Maran said that restructuring was required to make public sector units work commercially. As a step in this direction, nine such units have been identified for expanding them as global players, he said.

Public sector units are facing a crisis all over the world and, therefore, privatisation is resorted to as a means to improve their position. In India public sector is an important component of development,t he industry minister said.

The profits posted by about 130 public sector units amounted to about Rs 12,000 crore, while 109 of such units incurred a loss of Rs 5000 crore,t heminister said.

Maran said that three working groups have been set up to discuss various aspects of restructuring and performance improvement.

They would discuss autonomy and accountability, staff motivation, training and human resource development and organisational and cinancial restructuring. Maran said the recommendations of these groups would be considered.

Whatever his ministry could do would be done immediately and other points would be taken up with the respective administrative ministries of the enterprises, Maran said.

Chairmen or managing directors of 37 public sector enterprises are attending the workshop.