Divestment not to shut down PSEs but prime them up: FM Sitharaman

So far in the current fiscal year, the government has mopped up over Rs 24,000 crore from CPSE disinvestment

Finance Minister Nirmala Sitharaman on Friday said the principle of the government’s disinvestment programme was not to shut down any unit or company but to make them more efficient and professionally driven.

Highlighting that public sector enterprises (PSEs) that were privatised between 1994 and 2004 are being driven by professionally run boards, the minister said these companies had only improved.

Addressing the iconic week celebrations of Department of Investment and Public Asset Management (DIPAM) as part of ‘Azadi ka Amrit Mahotsav’, Sitharaman said privatisation of CPSEs is intended at ensuring that these companies are run efficiently and cost effectively.

“…The principle with which