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The government will soon release the list of strategy areas, PSU companies of other sectors will be privatized: Nirmala Sitharaman

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The government will soon come up with a new public sector enterprise policy, which will define strategic areas. There will be no more than four PSU companies in these sectors. Finance Minister Nirmala Sitharaman said this on Saturday. In May, the Finance Minister announced the Self-Reliant India Package, stating that a maximum of four PSU companies would remain in strategic sectors. At the same time, companies from other sectors will be privatized. When asked about the list of strategic areas, Sitharaman said, “We are working on it … It will soon go to the cabinet.”

He said there may be several models to achieve this goal, with at least four PSU companies in strategic sectors. Sitharaman said, “They will either be merged or brought together in such a way that their number remains four or less.”

A list of strategic areas of this policy will be notified. In this list, minimum one and maximum four PSU companies will be kept in each sector. In other sectors, central public sector undertakings will be privatized according to feasibility.

When asked about the expectations related to the meeting of RBI’s Monetary Policy Committee next week, the Finance Minister said that RBI has to decide in this regard.

Regarding the state of the economy, Sitharaman said that it is definitely getting out of trouble but due to the uncertainties created by the coronavirus epidemic, it is difficult to say anything about the whole picture at this time.

He said that the value chain is being affected in many areas of the country due to the contention zone.

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