Commending the Public Sector Enterprises (PSEs) for playing a crucial role in charting the economic growth trajectory over the years, Shri Tuhin Kanta Pandey, Secretary, Department of Investment and Public Asset Management (DIPAM), stressed that increasing market capitalisation should be one of the key action areas for the PSEs going forward apart from facilitating the partake of government and public in their profits by way of giving out dividends. He was speaking at Inaugural Session of the PSE Summit organised by CII here today. Lauding the PSEs for their commendable role of ensuring supplies of essential services during the lockdown period, Hon’ble Secretary highlighted that PSEs have been making a concerted effort of clearing the dues of MSMEs as well so as to make available the much-needed liquidity to these enterprises during the present difficult times.
Enunciating the key prerequisites for moving towards the shared goal of achieving Atmanirbhar Bharat, Shri Pandey highlighted that the private sector must play a key role alongside the public sector enterprises (PSEs). “Idle assets do not contribute to Atmanirbhar Bharat, all assets should be gainfully employed to yield positive results”, he further stated. He also asserted that “Atmanirbhar Bharat,” which translates to ‘self-reliance’, should not be conflated with ‘self-sufficiency’. The former is built on capabilities which are built through competition.
Regarding the current disinvestment scenario, Hon’ble Secretary stated that strategic disinvestments should be undertaken wherever possible to move towards a more competitive economy. Though the current pandemic has thrown the planned disinvestments off course, but Initial Public Offerings (IPOs) will continue to remain a priority of the government. “We hear the markets that Exchange Traded Funds (ETFs) are not the preferred mode of disinvesting, hence the government will not prefer go through this route”, he further added.
Earlier in his welcome remarks, Mr Anil Kumar Chaudhary, Chairman, CII PSE Council highlighted that PSEs have undergone a cycle of transformation over the years by undertaking a slew of efficiency and competitiveness enhancing measures. “PSEs have been the magic wand which the government has used to popularise its various schemes amongst the larger populace of the country”, he stated.
27 November 2020
New Delhi