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Raisina Dialogue 2023: Union Finance Minister Nirmala Sitharaman on Saturday said the government is not in a hurry to sell everything and will maintain its presence in four strategic sectors, including telecom. The minimum presence of existing public sector commercial enterprises in strategic sectors will be kept under government control at the holding company level. The rest of the enterprises in this sector will be considered for privatization or merger with another Public Sector Enterprise (PSE) or for closure.
Finance Minister was speaking at Raisina Dialogue 2023
Addressing the ‘Raisina Dialogue 2023’ conference held in the capital Delhi, Sitharaman said that government-owned professionally run companies will remain in four broad strategic sectors in the country. Atomic Energy, Space & Defence, Transport & Telecom under PSE Policy; Power, petroleum, coal and other minerals and banking, insurance and financial services have been identified as four broad strategic sectors.
Where the government does not want to be present, it will not remain – Finance Minister
The Finance Minister said, ‘Government’s policy is not to rush to sell everything… Nor does it mean that the government will start producing everything from needles to crops. Where the government does not want to exist, it will not remain there. But where there will be a need to be present in view of strategic interests, it will remain in areas like telecom. Explaining the importance of minimal government presence in these areas, the Finance Minister said, “There will be a government-owned telecom company and it will be professionally run.”
He said, “The institutes which are capable of operating on their own, it is a different matter. But if there is any possibility in a very small company, then we will try to make a bigger unit by merging them so that they can operate on their own.”
Finance Minister Nirmala Sitharaman had announced in the budget speech that the government would raise Rs 51,000 crore by selling stake in various government companies in the financial year 2023-24. This target is slightly higher than the current financial year ending on March 31, 2023.
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