Lok Sabha Speaker Sumitra Mahajan today stressed on the need to ensure legislative control and supervision over spending of public money.
Inaugurating the All India Conference of Chairpersons of the Committee on Public Undertakings of Parliament and state legislatures, she emphasised the imperative of legislative control and supervision over utilisation of public money.
Mahajan observed that it is imperative on the part of Parliament and state legislatures to ensure that the public money involved in the working of PSUs is not mis-utilised.
She noted that the Committee on Public Undertakings had worked over the years as an effective legislative mechanism to ensure control and accountability over these undertakings.
The Speaker said with liberalisation, the public sector undertakings are now faced with competition from the private sector. As such, the need for public undertakings today is to perform, prove and justify their existence as economically viable enterprises.
In this context, the Committee on Public Undertakings, has to ensure that the public sector undertakings not only perform in consonance with the defined socio-economic objectives, but also outperform their counterparts in the private sector, she added.
